Analog Devices, Inc. (NASDAQ:ADI) Short Interest Up 60.2% in July

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 7,130,000 shares, an increase of 60.2% from the June 30th total of 4,450,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average trading volume of 2,740,000 shares, the short-interest ratio is presently 2.6 days.

In related news, SVP Steve Pietkiewicz sold 3,710 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $123.29, for a total value of $457,405.90. Also, Director Edward H. Frank sold 8,460 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $113.42, for a total transaction of $959,533.20. Following the completion of the transaction, the director now directly owns 19,775 shares of the company’s stock, valued at approximately $2,242,880.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,325 shares of company stock valued at $1,661,769. 0.42% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Analog Devices by 14.7% in the first quarter. BlackRock Inc. now owns 27,803,033 shares of the semiconductor company’s stock valued at $2,492,540,000 after acquiring an additional 3,571,383 shares in the last quarter. Franklin Resources Inc. boosted its stake in Analog Devices by 6.7% in the first quarter. Franklin Resources Inc. now owns 9,718,149 shares of the semiconductor company’s stock valued at $871,238,000 after acquiring an additional 609,182 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Analog Devices by 2.1% in the first quarter. Wells Fargo & Company MN now owns 8,633,085 shares of the semiconductor company’s stock valued at $773,956,000 after acquiring an additional 176,366 shares in the last quarter. Geode Capital Management LLC boosted its stake in Analog Devices by 2.3% in the first quarter. Geode Capital Management LLC now owns 5,407,079 shares of the semiconductor company’s stock valued at $483,921,000 after acquiring an additional 123,599 shares in the last quarter. Finally, Cantillon Capital Management LLC boosted its stake in Analog Devices by 1.0% in the second quarter. Cantillon Capital Management LLC now owns 4,990,949 shares of the semiconductor company’s stock valued at $612,090,000 after acquiring an additional 48,620 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

A number of research firms recently weighed in on ADI. KeyCorp increased their price objective on shares of Analog Devices from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Oppenheimer began coverage on shares of Analog Devices in a research report on Wednesday, June 10th. They issued a “buy” rating and a $140.00 price objective on the stock. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating and set a $132.00 price objective on the stock in a research report on Wednesday, July 22nd. SunTrust Banks increased their price objective on shares of Analog Devices from $93.00 to $104.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th. Finally, Bank of America reissued a “buy” rating and issued a $145.00 price objective on shares of Analog Devices in a research report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $125.68.

Shares of ADI stock opened at $114.85 on Friday. The firm has a market cap of $42.31 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.85 and a beta of 1.35. The company’s 50 day moving average is $119.00 and its 200 day moving average is $110.55. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 0.44. Analog Devices has a 52-week low of $79.07 and a 52-week high of $127.39.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. Analog Devices’s revenue was down 13.7% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. Analysts anticipate that Analog Devices will post 4.65 EPS for the current fiscal year.

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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