Calamos Wealth Management LLC Sells 15,148 Shares of Analog Devices, Inc. $ADI

Calamos Wealth Management LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,103 shares of the semiconductor company’s stock after selling 15,148 shares during the period. Calamos Wealth Management LLC’s holdings in Analog Devices were worth $15,013,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Calamos Advisors LLC increased its holdings in shares of Analog Devices by 10.5% during the third quarter. Calamos Advisors LLC now owns 140,990 shares of the semiconductor company’s stock valued at $34,641,000 after acquiring an additional 13,388 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Analog Devices in the 3rd quarter worth about $6,462,000. Sax Wealth Advisors LLC grew its position in Analog Devices by 2.1% during the 3rd quarter. Sax Wealth Advisors LLC now owns 12,751 shares of the semiconductor company’s stock valued at $3,133,000 after purchasing an additional 264 shares during the last quarter. Smith Salley Wealth Management increased its stake in Analog Devices by 2.0% during the 3rd quarter. Smith Salley Wealth Management now owns 109,416 shares of the semiconductor company’s stock valued at $26,884,000 after purchasing an additional 2,097 shares in the last quarter. Finally, Ascent Group LLC increased its stake in Analog Devices by 98.2% during the 3rd quarter. Ascent Group LLC now owns 9,011 shares of the semiconductor company’s stock valued at $2,214,000 after purchasing an additional 4,464 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADI has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and issued a $285.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. BNP Paribas Exane initiated coverage on shares of Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Wall Street Zen downgraded Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus set a $280.00 target price on Analog Devices in a report on Friday, November 21st. Finally, Morgan Stanley upped their price target on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $287.22.

Analog Devices Stock Down 0.3%

Shares of ADI stock opened at $274.82 on Wednesday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The stock has a market cap of $134.57 billion, a P/E ratio of 60.27, a P/E/G ratio of 1.52 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $255.18 and a two-hundred day simple moving average of $245.00.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the company posted $1.67 EPS. The company’s revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total value of $873,093.75. Following the transaction, the director owned 136,321 shares of the company’s stock, valued at $38,086,724.19. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the transaction, the chief accounting officer owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,419 shares of company stock valued at $7,811,917. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.