Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 5,203,414 shares, a decrease of 38.5% from the May 31st total of 8,463,792 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 5,702,046 shares, the days-to-cover ratio is currently 0.9 days.

Analog Devices (NASDAQ ADI) opened at 79.20 on Thursday. The firm has a market capitalization of $29.07 billion, a P/E ratio of 30.33 and a beta of 1.27. Analog Devices has a 52-week low of $52.17 and a 52-week high of $90.49. The company has a 50 day moving average price of $80.06 and a 200 day moving average price of $78.13.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $0.64 earnings per share. Analog Devices’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices will post $4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th were paid a $0.45 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.27%. Analog Devices’s dividend payout ratio is presently 67.92%.

In related news, CEO Vincent Roche sold 47,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the sale, the chief executive officer now owns 61,484 shares in the company, valued at $5,318,366. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total value of $240,840.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,638,033.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,526 shares of company stock worth $5,684,971. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares in the last quarter. BlackRock Inc. raised its position in Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares in the last quarter. Wellington Management Group LLP raised its position 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 raised its position 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, Wells Fargo & Company MN raised its position in Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock worth $652,081,000 after buying an additional 614,150 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

A number of analysts recently issued reports on ADI shares. Jefferies Group LLC boosted their price target on Analog Devices to $100.00 and gave the company a “buy” rating in a report on Monday, March 20th. Zacks Investment Research lowered Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of Analog Devices in a report on Friday, March 17th. Bank of America Corporation reiterated a “buy” rating and issued a $100.00 price target (up previously from $92.00) on shares of Analog Devices in a report on Friday, June 2nd. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $100.00 price target (up previously from $90.00) on shares of Analog Devices in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.67.

TRADEMARK VIOLATION WARNING: This piece was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/06/29/analog-devices-inc-adi-sees-significant-decline-in-short-interest.html.

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.

Receive News & Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.