Analog Devices, Inc. (NASDAQ:ADI) Sees Large Decrease in Short Interest

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,110,000 shares, a drop of 12.2% from the January 15th total of 4,680,000 shares. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is currently 1.9 days. Approximately 1.1% of the company’s stock are sold short.

A number of equities analysts recently weighed in on ADI shares. Nomura boosted their price objective on shares of Analog Devices from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Piper Jaffray Companies restated a “buy” rating and issued a $135.00 price objective on shares of Analog Devices in a report on Wednesday, November 27th. BMO Capital Markets boosted their price objective on shares of Analog Devices to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Deutsche Bank boosted their price objective on shares of Analog Devices from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Credit Suisse Group boosted their price objective on shares of Analog Devices from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $120.50.

Shares of ADI opened at $117.65 on Friday. The firm has a market cap of $43.41 billion, a PE ratio of 32.32, a P/E/G ratio of 1.91 and a beta of 1.42. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $117.01 and a two-hundred day simple moving average of $113.53. Analog Devices has a 1-year low of $95.51 and a 1-year high of $124.79.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Analog Devices had a net margin of 22.75% and a return on equity of 16.39%. Analog Devices’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, research analysts forecast that Analog Devices will post 4.78 EPS for the current fiscal year.

In other news, Director Kenton J. Sicchitano sold 11,860 shares of Analog Devices stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $120.96, for a total transaction of $1,434,585.60. Following the completion of the transaction, the director now directly owns 34,255 shares in the company, valued at $4,143,484.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil S. Novich sold 25,760 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $118.39, for a total transaction of $3,049,726.40. Following the completion of the transaction, the director now owns 34,555 shares of the company’s stock, valued at $4,090,966.45. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock valued at $11,186,087 over the last quarter. Company insiders own 0.42% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc raised its stake in Analog Devices by 1.4% during the 3rd quarter. CIBC Asset Management Inc now owns 126,499 shares of the semiconductor company’s stock valued at $14,134,000 after buying an additional 1,691 shares during the last quarter. NEXT Financial Group Inc grew its position in shares of Analog Devices by 15.9% during the 3rd quarter. NEXT Financial Group Inc now owns 2,408 shares of the semiconductor company’s stock valued at $269,000 after acquiring an additional 331 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Analog Devices by 1.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 30,406 shares of the semiconductor company’s stock valued at $3,432,000 after acquiring an additional 373 shares during the period. Raine Capital LLC grew its position in shares of Analog Devices by 152.2% during the 3rd quarter. Raine Capital LLC now owns 58,000 shares of the semiconductor company’s stock valued at $6,480,000 after acquiring an additional 35,000 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of Analog Devices by 3.2% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 39,883 shares of the semiconductor company’s stock valued at $4,456,000 after acquiring an additional 1,237 shares during the period. Institutional investors and hedge funds own 86.92% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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