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

Associated Banc Corp lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.5% in the 3rd quarter, Holdings Channel reports. The firm owned 26,547 shares of the semiconductor company’s stock after selling 1,838 shares during the period. Associated Banc Corp’s holdings in Analog Devices were worth $6,110,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new stake in Analog Devices in the second quarter worth $29,000. Archer Investment Corp raised its stake in 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 purchasing an additional 73 shares in the last quarter. ORG Partners LLC grew its stake in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, CVA Family Office LLC raised its position in shares of 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 buying an additional 45 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday. They set an “equal weight” rating and a $220.00 price objective on the stock. Morgan Stanley raised 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, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Stock Performance

ADI opened at $223.58 on Tuesday. The stock has a market cap of $111.01 billion, a P/E ratio of 67.14, a P/E/G ratio of 3.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a fifty day moving average price of $224.88 and a 200 day moving average price of $225.84. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,995 shares of company stock worth $25,116,338. Company insiders own 0.31% of the company’s stock.

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.