Wesbanco Bank Inc. Buys 484 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wesbanco Bank Inc. grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,286 shares of the semiconductor company’s stock after buying an additional 484 shares during the period. Wesbanco Bank Inc.’s holdings in Analog Devices were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Midwest Professional Planners LTD. boosted its holdings in Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC boosted its holdings in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC boosted its holdings in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares during the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Analog Devices by 1.3% during the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock worth $1,114,000 after buying an additional 65 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 2.4%

Shares of Analog Devices stock opened at $227.66 on Tuesday. The business’s 50 day simple moving average is $200.14 and its 200 day simple moving average is $210.38. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The firm has a market cap of $112.98 billion, a PE ratio of 72.50, a P/E/G ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $1.40 EPS. Analog Devices’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analog Devices declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Williams Trading set a $260.00 target price on Analog Devices in a report on Friday, May 23rd. Citigroup lifted their price objective on Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 19th. Cantor Fitzgerald lifted their price objective on Analog Devices from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Morgan Stanley cut their price objective on Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, Cowen reiterated a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.63.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director now owns 180,071 shares of the company’s stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock valued at $8,735,156 in the last 90 days. 0.33% of the stock is currently owned by insiders.

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.