MetLife Investment Management LLC Has $29.70 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

MetLife Investment Management LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 129,020 shares of the semiconductor company's stock after selling 3,247 shares during the quarter. MetLife Investment Management LLC's holdings in Analog Devices were worth $29,697,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADI. FMR LLC lifted its stake in shares of Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock valued at $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. Van ECK Associates Corp boosted its stake in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock valued at $1,078,617,000 after acquiring an additional 700,862 shares during the last quarter. American Century Companies Inc. increased its position in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock worth $993,293,000 after buying an additional 767,534 shares during the period. Legal & General Group Plc lifted its position in Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company's stock valued at $963,788,000 after purchasing an additional 211,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Analog Devices by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company's stock worth $720,933,000 after purchasing an additional 171,893 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Performance

ADI traded down $1.88 during midday trading on Wednesday, reaching $217.17. The company's stock had a trading volume of 2,943,406 shares, compared to its average volume of 3,243,709. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14. The stock has a market cap of $107.82 billion, a P/E ratio of 65.22, a PEG ratio of 3.15 and a beta of 1.08. The company has a fifty day simple moving average of $224.64 and a 200 day simple moving average of $225.86. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices's dividend payout ratio is 110.51%.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company's stock, valued at $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 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 $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ADI has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Wednesday. Bank of America dropped their price objective on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company began coverage on Analog Devices in a research note on Friday, November 22nd. They set an "equal weight" rating and a $220.00 target price for the company. Finally, Morgan Stanley dropped their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $249.33.

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.