Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Northwest Bancshares Inc.

Northwest Bancshares Inc. reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,215 shares of the semiconductor company’s stock after selling 186 shares during the period. Northwest Bancshares Inc.’s holdings in Analog Devices were worth $510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. West Family Investments Inc. boosted its holdings in Analog Devices by 58.3% in the third quarter. West Family Investments Inc. now owns 1,757 shares of the semiconductor company’s stock worth $404,000 after purchasing an additional 647 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Analog Devices by 3.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 149,813 shares of the semiconductor company’s stock valued at $34,482,000 after buying an additional 5,562 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Analog Devices in the third quarter valued at approximately $16,441,000. Banque Cantonale Vaudoise grew its holdings in shares of Analog Devices by 259.7% during the third quarter. Banque Cantonale Vaudoise now owns 20,131 shares of the semiconductor company’s stock valued at $4,634,000 after purchasing an additional 14,534 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Analog Devices by 42.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,274 shares of the semiconductor company’s stock worth $1,674,000 after purchasing an additional 2,169 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 0.4 %

Analog Devices stock opened at $210.43 on Wednesday. Analog Devices, Inc. has a 1 year low of $179.44 and a 1 year high of $244.14. The firm’s 50 day moving average price is $225.53 and its two-hundred day moving average price is $225.51. The firm has a market cap of $104.48 billion, a price-to-earnings ratio of 63.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 9.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,495 shares of company stock worth $25,229,958. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADI. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.