Analog Devices, Inc. (ADI) Short Interest Update
Analog Devices, Inc. (NASDAQ:ADI) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 8,310,316 shares, a decline of 14.3% from the July 14th total of 9,695,069 shares. Based on an average daily trading volume, of 2,147,221 shares, the short-interest ratio is presently 3.9 days. Currently, 2.3% of the company’s stock are sold short.
In other news, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the transaction, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at $5,318,366. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total value of $244,620.00. Following the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at $1,663,742.16. The disclosure for this sale can be found here. Insiders sold 61,086 shares of company stock valued at $5,202,514 in the last three months. 1.10% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Analog Devices by 3.0% in the second quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock worth $2,260,331,000 after buying an additional 847,762 shares in the last quarter. BlackRock Inc. increased its stake in Analog Devices by 6.2% in the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after buying an additional 1,437,338 shares in the last quarter. Wellington Management Group LLP increased its stake in Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock worth $1,514,372,000 after buying an additional 2,319,193 shares in the last quarter. State Street Corp increased its stake in Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after buying an additional 2,493,568 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Analog Devices by 54.1% in the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after buying an additional 3,248,336 shares in the last quarter. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on ADI shares. Zacks Investment Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 15th. Bank of America Corporation reaffirmed a “buy” rating and set a $100.00 price target (up from $92.00) on shares of Analog Devices in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $100.00 price target (up from $90.00) on shares of Analog Devices in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $84.00 price target (up from $80.00) on shares of Analog Devices in a research report on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $89.92.
Shares of Analog Devices (NASDAQ ADI) opened at 78.04 on Friday. The stock’s 50 day moving average is $79.11 and its 200 day moving average is $79.68. The stock has a market capitalization of $28.64 billion, a price-to-earnings ratio of 29.89 and a beta of 1.30. Analog Devices has a 1-year low of $59.01 and a 1-year high of $90.49.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that Analog Devices will post $4.37 EPS for the current year.
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About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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