Analog Devices, Inc. (NASDAQ:ADI) Stake Cut by Wesbanco Bank Inc.

Wesbanco Bank Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,802 shares of the semiconductor company’s stock after selling 119 shares during the quarter. Wesbanco Bank Inc.’s holdings in Analog Devices were worth $1,658,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after buying an additional 106,664 shares during the last quarter. Geode Capital Management LLC grew its holdings in Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after acquiring an additional 135,838 shares during the period. Franklin Resources Inc. grew its holdings in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. FMR LLC grew its holdings in Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $228.35 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $215.88 and its two-hundred day moving average is $222.34. The company has a market cap of $113.30 billion, a P/E ratio of 69.41, a P/E/G ratio of 2.54 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 earnings per share. On average, equities analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADI. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Truist Financial lifted their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock worth $11,029,300. Company insiders own 0.31% of the company’s stock.

Analog Devices Profile

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