Meeder Asset Management Inc. Has $3.79 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Meeder Asset Management Inc. lessened its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 87.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,460 shares of the semiconductor company's stock after selling 117,292 shares during the period. Meeder Asset Management Inc.'s holdings in Analog Devices were worth $3,789,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADI. Ontario Teachers Pension Plan Board acquired a new position in Analog Devices in the first quarter worth approximately $469,000. O Shaughnessy Asset Management LLC raised its position in shares of Analog Devices by 13.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 31,056 shares of the semiconductor company's stock worth $6,143,000 after purchasing an additional 3,604 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Analog Devices by 87.7% during the first quarter. Bessemer Group Inc. now owns 33,668 shares of the semiconductor company's stock valued at $6,659,000 after purchasing an additional 15,735 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Analog Devices by 39.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 5,851 shares of the semiconductor company's stock valued at $1,157,000 after purchasing an additional 1,669 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Analog Devices by 292.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,000 shares of the semiconductor company's stock worth $21,757,000 after purchasing an additional 81,972 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $249.80.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the business's stock in a transaction on Friday, August 23rd. The shares were 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 $1,078,935.52. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 in the last three months. Company insiders own 0.31% of the company's stock.

Analog Devices Stock Performance

Analog Devices stock traded up $0.78 during trading hours on Tuesday, reaching $210.43. 2,884,310 shares of the company were exchanged, compared to its average volume of 3,219,607. Analog Devices, Inc. has a 12 month low of $179.44 and a 12 month high of $244.14. The firm has a market cap of $104.48 billion, a price-to-earnings ratio of 63.19, a PEG ratio of 2.89 and a beta of 1.08. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $225.53 and a 200 day moving average of $225.51.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices's revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business posted $2.49 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is currently 110.51%.

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.