Calamos Advisors LLC Has $27.37 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Calamos Advisors LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,856 shares of the semiconductor company’s stock after selling 20,650 shares during the quarter. Calamos Advisors LLC’s holdings in Analog Devices were worth $27,373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Analog Devices during the 4th quarter worth about $1,040,194,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Analog Devices by 101,479.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after buying an additional 4,107,895 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Analog Devices by 236.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock worth $450,446,000 after buying an additional 1,625,377 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

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 value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vivek Jain sold 3,479 shares of the 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 disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,825,113 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADI. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a report on Thursday, January 18th. The Goldman Sachs Group lifted their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Barclays lifted their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Evercore ISI began coverage on Analog Devices in a report on Tuesday. They set an “outperform” rating and a $254.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded down $0.60 during trading on Friday, hitting $186.98. 323,203 shares of the company were exchanged, compared to its average volume of 3,294,944. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The company has a market capitalization of $92.73 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 4.75 and a beta of 1.17. The business’s 50 day moving average is $193.05 and its 200-day moving average is $186.47.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $2.75 earnings per share. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 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.