Associated Banc Corp Acquires New Holdings in Analog Devices, Inc. $ADI

Key Points

• Associated Banc Corp opened a position in Analog Devices, buying 22,015 shares valued at approximately $8.7 million in the third quarter.
• Analog Devices beat quarterly earnings and revenue expectations, reporting EPS of $3.45 and revenue of $4.02 billion; revenue rose 39.2% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $460.55. The company also pays an annualized dividend of $4.40 per share, a yield of about 1%.

Associated Banc Corp acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,015 shares of the semiconductor company's stock, valued at approximately $8,734,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrity Alliance LLC. acquired a new stake in Analog Devices in the third quarter valued at approximately $205,000. Tucker Asset Management LLC lifted its stake in Analog Devices by 6.5% in the third quarter. Tucker Asset Management LLC now owns 1,136 shares of the semiconductor company's stock worth $451,000 after acquiring an additional 69 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management acquired a new position in Analog Devices during the 3rd quarter worth approximately $206,000. Signature Equity Partners LLC grew its holdings in Analog Devices by 70.5% during the 3rd quarter. Signature Equity Partners LLC now owns 474 shares of the semiconductor company's stock worth $188,000 after acquiring an additional 196 shares in the last quarter. Finally, Kuhn & Co Investment Counsel increased its position in shares of Analog Devices by 7.2% in the 3rd quarter. Kuhn & Co Investment Counsel now owns 913 shares of the semiconductor company's stock valued at $362,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Up 1.7%

ADI stock opened at $419.79 on Wednesday. The stock has a market cap of $203.42 billion, a P/E ratio of 49.80, a PEG ratio of 1.00 and a beta of 1.24. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The company's 50 day moving average is $390.31 and its two-hundred day moving average is $372.32.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.11. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The company's revenue for the quarter was up 39.2% on a year-over-year basis. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Research analysts expect that Analog Devices, Inc. will post 13.00 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, September 1st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.0%. Analog Devices's payout ratio is 52.19%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADI shares. Needham & Company LLC raised their price objective on shares of Analog Devices from $440.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Piper Sandler set a $460.00 target price on Analog Devices in a report on Tuesday, September 8th. Arete Research raised their price target on Analog Devices from $487.00 to $490.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. KeyCorp lifted their price target on Analog Devices from $500.00 to $525.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $510.00 price objective (up from $400.00) on shares of Analog Devices in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $460.55.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $425.46, for a total value of $4,254,600.00. Following the completion of the sale, the chief executive officer directly owned 125,670 shares of the company's stock, valued at approximately $53,467,558.20. The trade was a 7.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Puccio, Jr. sold 1,500 shares of the company's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $389.46, for a total value of $584,190.00. Following the completion of the sale, the chief financial officer directly owned 48,177 shares of the company's stock, valued at approximately $18,763,014.42. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 51,020 shares of company stock worth $20,105,198. Corporate insiders own 0.36% of the company's stock.

Analog Devices Profile

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that designs and manufactures analog, mixed-signal and digital signal-processing technologies. Its products convert, condition and process real-world signals such as temperature, pressure, sound, motion, light and electrical power, helping electronic systems interpret and respond to physical environments.

The company offers a broad portfolio of integrated circuits, power-management products, amplifiers, data converters, sensors, radio-frequency and microwave components, connectivity solutions and embedded processors.

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