Associated Banc Corp Sells 1,838 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Associated Banc Corp trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,547 shares of the semiconductor company’s stock after selling 1,838 shares during the quarter. Associated Banc Corp’s holdings in Analog Devices were worth $6,110,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the third quarter worth about $28,000. New Millennium Group LLC purchased a new stake in Analog Devices in the second quarter valued at approximately $29,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, CVA Family Office LLC boosted its holdings in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADI. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer reissued an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley raised their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.05.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,995 shares of company stock valued at $25,116,338. Insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $223.58 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14. The stock has a market capitalization of $111.01 billion, a price-to-earnings ratio of 67.14, a PEG ratio of 3.02 and a beta of 1.08. The business’s fifty day moving average price is $224.88 and its 200-day moving average price is $225.84.

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.