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

Meeder Asset Management Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 87.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,460 shares of the semiconductor company’s stock after selling 117,292 shares during the quarter. Meeder Asset Management Inc.’s holdings in Analog Devices were worth $3,789,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares during the period. Summit Global Investments acquired a new stake in shares of Analog Devices during the third quarter worth approximately $867,000. Versor Investments LP acquired a new stake in shares of Analog Devices during the third quarter worth approximately $952,000. Tidal Investments LLC increased its stake in Analog Devices by 24.9% in the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after buying an additional 6,314 shares during the period. Finally, BDF Gestion purchased a new stake in Analog Devices in the 2nd quarter worth approximately $4,491,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.6 %

Analog Devices stock opened at $209.65 on Tuesday. Analog Devices, Inc. has a 52 week low of $179.44 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm has a market capitalization of $104.09 billion, a PE ratio of 62.96, a PEG ratio of 2.89 and a beta of 1.08. The business’s 50-day simple moving average is $225.70 and its 200-day simple moving average is $225.44.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the business posted $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared 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 1.76%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This trade represents a 9.53 % 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 hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock worth $25,229,958 in the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADI. Morgan Stanley boosted their price target on shares of 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 lowered their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices 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.