Analog Devices Inc. (ADI) Short Interest Update
Analog Devices Inc. (NASDAQ:ADI) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 14,350,533 shares, an increase of 20.3% from the October 14th total of 11,931,356 shares. Based on an average trading volume of 2,420,348 shares, the days-to-cover ratio is currently 5.9 days. Approximately 4.7% of the company’s shares are short sold.
Analog Devices (NASDAQ:ADI) opened at 68.21 on Friday. Analog Devices has a 12-month low of $47.24 and a 12-month high of $68.50. The company has a market cap of $20.97 billion, a PE ratio of 32.22 and a beta of 1.18. The stock has a 50 day moving average of $63.99 and a 200 day moving average of $60.84.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The company earned $870 million during the quarter, compared to the consensus estimate of $847.43 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Analog Devices will post $2.92 earnings per share for the current year.
In other Analog Devices news, Director John C. Hodgson sold 7,500 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $64.42, for a total value of $483,150.00. Following the completion of the sale, the director now directly owns 18,485 shares in the company, valued at $1,190,803.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray Stata sold 25,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $64.02, for a total value of $1,600,500.00. Following the completion of the sale, the director now owns 257,631 shares of the company’s stock, valued at $16,493,536.62. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Several hedge funds have recently modified their holdings of ADI. Salem Investment Counselors Inc. acquired a new position in shares of Analog Devices during the third quarter worth approximately $7,895,000. Peddock Capital Advisors LLC purchased a new position in shares of Analog Devices during the third quarter valued at about $101,000. Evercore Wealth Management LLC boosted its position in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Analog Devices during the first quarter valued at about $112,000. Finally, Penserra Capital Management LLC boosted its position in shares of Analog Devices by 94.4% in the third quarter. Penserra Capital Management LLC now owns 1,932 shares of the company’s stock valued at $123,000 after buying an additional 938 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.
Several research analysts recently commented on ADI shares. B. Riley reiterated a “buy” rating and set a $73.00 target price on shares of Analog Devices in a research note on Wednesday, July 27th. Evercore ISI upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, July 27th. Citigroup Inc. lowered Analog Devices from a “buy” rating to a “neutral” rating and increased their target price for the stock from $60.00 to $68.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Morgan Stanley upgraded Analog Devices from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $56.00 to $78.00 in a research note on Wednesday, July 27th. Finally, Royal Bank Of Canada increased their target price on Analog Devices from $63.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Analog Devices currently has an average rating of “Buy” and a consensus target price of $70.83.
Analog Devices Company Profile
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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