Analog Devices, Inc. (NASDAQ:ADI) Short interest fell 20.8% in May.

Analog Devices, Inc. ( NASDAQ:ADI – Get Free Report ) saw a big decline in short interest in May. As of May 31, short interest was 9,050,000 shares, down 20.8% from the total of 11,420,000 shares as of May 15. With average daily volume of 3,300,000 shares, the short interest rate is currently 2.7 days.

Confidential activity

Therefore, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link. So on Thursday, April 4, Vice President Vivek Jain sold 3,479 shares of the company’s stock in a transaction. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link. Additionally, Director James Champy sold 1,228 shares of the company’s stock as part of a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock valued at $1,259,164.44. The announcement of this sale can be found here. Over the last 90 days, insiders have sold 51,349 shares of company stock worth $11,118,356. Corporate insiders own 0.31% of the company’s shares.

Hedge funds weigh on analog devices

Institutional investors have recently made changes to their stance in the industry. In the first quarter, Vanguard Group Inc. increased its shares in Analog Devices by 4.7%. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after acquiring an additional 1,197,215 shares during the period. Invesco Ltd. increased its holdings in Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. Finally, Norges Bank bought a new stake in Analog Devices during the 4th quarter worth approximately $1,225,227,000. Institutional investors hold 86.81% of the company’s shares.

Analog equipment inventory performance

NASDAQ ADI shares opened at $231.19 on Friday. The company’s 50-day moving average price is $212.62 and its 200-day moving average price is $199.31. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt to equity ratio of 0.19. The company has a market capitalization of $114.72 billion, a PE ratio of 54.02, a PEG ratio of 4.04 and a beta of 1.12. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, $0.14 above analysts’ consensus estimates of $1.26. The company’s revenue for the quarter was $2.16 billion, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s quarterly revenue dropped 33.8% compared to the same quarter last year. During the same quarter last year, the company saw an EPS of $2.83. As a group, analysts predict that Analog Devices will post 6.22 EPS for the current year.

Analog Devices announces dividend

Recently, the company also declared a quarterly dividend, which will be paid on Monday, June 17. Stockholders who will receive a dividend of $0.92 per share on Tuesday, June 4th. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, June 4. Analog Devices’ payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

Several brokerages commented on ADI. Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. On Tuesday, April 16, Evercore ISI began reporting on Analog Devices stock. They gave the company an “outperform” rating and a $254.00 price target. Goldman Sachs Group increased their price target on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” in a report on Thursday, May 23. TD Cowen raised their target price on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Analog Devices on Monday, May 13th. They issued a “buy” rating and a $250.00 price target for the company. Seven analysts have rated the stock with a hold rating and eighteen analysts have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has an average rating of Moderate Buy and an average price target of $243.23.

Read our latest stock report on ADI

About analog devices

(Get the free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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