Meeder Advisory Services Inc. Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Meeder Advisory Services Inc. raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 27.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,382 shares of the semiconductor company’s stock after purchasing an additional 2,903 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Analog Devices were worth $3,055,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. Norges Bank purchased a new stake in Analog Devices during the 4th quarter worth $1,225,227,000. Capital International Investors increased its holdings in Analog Devices by 14.3% in the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after purchasing an additional 644,945 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. 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 Analog Devices stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock worth $7,181,458 over the last quarter. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADI has been the subject of several analyst reports. Susquehanna upped their target price on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 23rd. Bank of America lowered their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Price Performance

Shares of ADI opened at $221.53 on Friday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market cap of $109.93 billion, a price-to-earnings ratio of 51.76, a PEG ratio of 3.55 and a beta of 1.07. The stock has a 50 day moving average of $224.80 and a 200-day moving average of $214.63.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

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

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.