Meeder Asset Management Inc. Sells 5,968 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Meeder Asset Management Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,229 shares of the semiconductor company's stock after selling 5,968 shares during the period. Analog Devices makes up 1.3% of Meeder Asset Management Inc.'s portfolio, making the stock its 19th largest holding. Meeder Asset Management Inc.'s holdings in Analog Devices were worth $16,129,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADI. Halpern Financial Inc. boosted its position in Analog Devices by 331.4% in the 3rd quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company's stock valued at $26,000 after buying an additional 116 shares during the period. Silver Oak Securities Incorporated purchased a new stake in Analog Devices during the third quarter worth $29,000. Fortis Capital Advisors LLC bought a new stake in Analog Devices during the 1st quarter valued at $31,000. Quarry LP boosted its position in Analog Devices by 267.4% during the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 123 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in Analog Devices during the 1st quarter valued at $33,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company's stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of the company's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company's stock, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent research reports. KeyCorp increased their target price on Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Edward Jones raised Analog Devices from a "hold" rating to a "buy" rating in a research report on Friday, December 22nd. Wolfe Research upgraded Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Cantor Fitzgerald reiterated a "neutral" rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Finally, Truist Financial decreased their price objective on Analog Devices from $226.00 to $222.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $206.26.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $2.81 during trading on Friday, reaching $194.76. 2,084,600 shares of the company traded hands, compared to its average volume of 3,060,785. The firm's fifty day simple moving average is $192.85 and its 200 day simple moving average is $185.40. The stock has a market cap of $96.58 billion, a P/E ratio of 34.84, a PEG ratio of 4.89 and a beta of 1.17. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $202.77. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 EPS. Analog Devices's quarterly revenue was down 22.7% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.89%. This is a boost from Analog Devices's previous quarterly dividend of $0.86. Analog Devices's dividend payout ratio (DPR) is currently 65.83%.

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.