Wesbanco Bank Inc. Has $1.82 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Wesbanco Bank Inc. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,921 shares of the semiconductor company’s stock after selling 59 shares during the quarter. Wesbanco Bank Inc.’s holdings in Analog Devices were worth $1,823,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC acquired a new position in Analog Devices during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new position in Analog Devices during the first quarter worth $30,000. ORG Partners LLC grew its position in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC grew its position in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices during the 2nd quarter worth about $37,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $225.87 on Wednesday. The firm has a market cap of $112.08 billion, a P/E ratio of 52.77, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The business’s 50 day moving average is $224.82 and its 200-day moving average is $220.54. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $2.49 earnings per share. The company’s revenue was down 24.8% on a year-over-year basis. Equities research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.