Northwest Bancshares Inc. Has $510,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Northwest Bancshares Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,215 shares of the semiconductor company’s stock after selling 186 shares during the quarter. Northwest Bancshares Inc.’s holdings in Analog Devices were worth $510,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft raised its position in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of 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 buying an additional 43 shares during the last quarter. CVA Family Office LLC increased its position in Analog Devices by 40.2% in 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 in the last quarter. Legacy Financial Advisors Inc. boosted its position in Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after buying an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC increased its stake in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 48 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,495 shares of company stock valued at $25,229,958. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Performance

Shares of ADI stock opened at $210.43 on Wednesday. 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, Inc. has a 52 week low of $179.44 and a 52 week high of $244.14. The company’s 50 day moving average price is $225.53 and its two-hundred day moving average price is $225.51. The company has a market capitalization of $104.48 billion, a P/E ratio of 63.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08.

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

Analog Devices Company 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.