Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Potomac Fund Management Inc. ADV purchased a new stake in Analog Devices in the 4th quarter worth approximately $1,063,000. Centric Wealth Management grew its position in Analog Devices by 1.4% during the fourth quarter. Centric Wealth Management now owns 13,717 shares of the semiconductor company’s stock valued at $2,914,000 after buying an additional 187 shares during the period. Geode Capital Management LLC increased its holdings in Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after buying an additional 247,737 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of Analog Devices by 485.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,129 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 936 shares during the period. Finally, StoneX Group Inc. raised its position in shares of Analog Devices by 21.8% in the fourth quarter. StoneX Group Inc. now owns 12,991 shares of the semiconductor company’s stock worth $2,760,000 after acquiring an additional 2,329 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ ADI opened at $199.18 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The firm has a market capitalization of $98.79 billion, a P/E ratio of 63.43, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock’s fifty day moving average is $215.71 and its two-hundred day moving average is $219.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared 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 was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis 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 (DPR) is currently 126.11%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Lake Street Capital started coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Benchmark lifted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.