Calamos Advisors LLC Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Calamos Advisors LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,179 shares of the semiconductor company’s stock after buying an additional 15,548 shares during the quarter. Calamos Advisors LLC’s holdings in Analog Devices were worth $50,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Calamos Wealth Management LLC increased its position in shares of Analog Devices by 2.4% in the second quarter. Calamos Wealth Management LLC now owns 56,266 shares of the semiconductor company’s stock valued at $12,843,000 after buying an additional 1,317 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of Analog Devices by 31.3% in the second quarter. Independence Bank of Kentucky now owns 819 shares of the semiconductor company’s stock valued at $187,000 after buying an additional 195 shares in the last quarter. Community Financial Services Group LLC purchased a new stake in shares of Analog Devices in the second quarter valued at approximately $1,700,000. Red Cedar Investment Management LLC increased its position in shares of Analog Devices by 39.1% in the second quarter. Red Cedar Investment Management LLC now owns 20,994 shares of the semiconductor company’s stock valued at $4,792,000 after buying an additional 5,898 shares in the last quarter. Finally, Destination Wealth Management purchased a new stake in shares of Analog Devices in the second quarter valued at approximately $25,789,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.9 %

Shares of Analog Devices stock traded up $6.48 during trading hours on Friday, hitting $228.39. The company’s stock had a trading volume of 3,208,020 shares, compared to its average volume of 3,378,589. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The firm has a fifty day moving average of $226.33 and a 200-day moving average of $211.60. The stock has a market cap of $113.33 billion, a price-to-earnings ratio of 53.36, a P/E/G ratio of 3.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company posted $2.49 EPS. The company’s quarterly revenue was down 24.8% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Ratings Changes

A number of analysts have recently commented on ADI shares. Barclays boosted their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lifted their price target on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Truist Financial lowered their price target on Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America lowered their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Robert W. Baird lifted their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Insider Activity

In other news, Director James Champy sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Champy sold 4,200 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,487,947.05. The disclosure for this sale can be found here. Insiders have sold a total of 41,812 shares of company stock valued at $9,648,861 in the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices 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.