Calamos Advisors LLC Acquires 34,417 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Calamos Advisors LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,787 shares of the semiconductor company's stock after acquiring an additional 34,417 shares during the quarter. Calamos Advisors LLC's holdings in Analog Devices were worth $39,283,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Analog Devices during the 4th quarter worth approximately $1,755,958,000. Raymond James Financial Inc. bought a new stake in Analog Devices during the 4th quarter valued at $833,386,000. GAMMA Investing LLC increased its stake in Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after buying an additional 2,203,062 shares during the period. Kovitz Investment Group Partners LLC increased its stake in Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after buying an additional 1,186,981 shares during the period. Finally, Deutsche Bank AG raised its position in Analog Devices by 71.0% in the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after acquiring an additional 896,694 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADI shares. Wells Fargo & Company set a $235.00 price objective on Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Stifel Nicolaus lifted their price objective on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Morgan Stanley cut their target price on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, TD Cowen boosted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Stock Performance

NASDAQ ADI traded up $0.93 during trading hours on Friday, hitting $246.08. The company's stock had a trading volume of 1,837,392 shares, compared to its average volume of 3,593,981. The company has a market cap of $122.12 billion, a P/E ratio of 67.05, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The company's 50 day simple moving average is $220.07 and its two-hundred day simple moving average is $212.46. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. Analog Devices's revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.61%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $3,143,556 over the last 90 days. Insiders own 0.33% of the company's stock.

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.