Meeder Asset Management Inc. Has $30.53 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Meeder Asset Management Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 133,752 shares of the semiconductor company’s stock after selling 11,500 shares during the period. Analog Devices accounts for approximately 2.1% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 12th largest holding. Meeder Asset Management Inc.’s holdings in Analog Devices were worth $30,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Private Wealth Management Group LLC bought a new stake in Analog Devices during the 4th quarter worth about $29,000. New Millennium Group LLC bought a new stake in shares of Analog Devices during the second quarter worth approximately $29,000. Riverview Trust Co bought a new stake in shares of Analog Devices during the first quarter worth approximately $30,000. ORG Partners LLC raised its stake in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 1.6 %

NASDAQ:ADI opened at $221.53 on Friday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The firm has a market capitalization of $109.93 billion, a price-to-earnings ratio of 51.76, a price-to-earnings-growth ratio of 3.55 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $224.80 and its two-hundred day moving average price is $214.63.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.49 earnings per share. The firm’s revenue was down 24.8% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.66%. Analog Devices’s payout ratio is 85.98%.

Analysts Set New Price Targets

A number of research firms have recently commented on ADI. Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. The Goldman Sachs Group upped their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein upped their target price on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $251.45.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated 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 owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,495 shares of company stock worth $7,181,458. Insiders own 0.31% of the company’s stock.

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.