Meeder Advisory Services Inc. Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Meeder Advisory Services Inc. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,209 shares of the semiconductor company’s stock after selling 125 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Analog Devices were worth $2,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. United Bank lifted its stake in Analog Devices by 4.7% in the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after purchasing an additional 273 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Analog Devices by 3.8% in the third quarter. Captrust Financial Advisors now owns 25,670 shares of the semiconductor company’s stock worth $5,908,000 after buying an additional 941 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Analog Devices during the 3rd quarter worth approximately $6,142,000. Hilltop Holdings Inc. purchased a new position in Analog Devices during the 3rd quarter valued at $570,000. Finally, Integrated Wealth Concepts LLC grew its position in Analog Devices by 3.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company’s stock valued at $927,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $199.18 on Wednesday. The company has a 50 day moving average of $215.71 and a two-hundred day moving average of $219.17. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a market cap of $98.79 billion, a price-to-earnings ratio of 63.43, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the firm earned $1.73 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.99%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock valued at $7,746,500 in the last three months. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ADI shares. UBS Group boosted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.