Wesbanco Bank Inc. Has $1.66 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Wesbanco Bank Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust increased its holdings in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after acquiring an additional 48 shares in the last quarter. Bank of Hawaii grew its holdings in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after buying an additional 50 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after buying an additional 51 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $11,029,300. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $228.35 on Friday. The company has a market cap of $113.30 billion, a PE ratio of 69.41, a price-to-earnings-growth ratio of 2.54 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The business has a 50 day moving average price of $215.88 and a 200-day moving average price of $222.34. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $2.01 earnings per share. Equities analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on ADI. Truist Financial raised their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. 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. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

About Analog Devices

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.