Versant Capital Management Inc Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Versant Capital Management Inc grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 18.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 882 shares of the semiconductor company’s stock after purchasing an additional 140 shares during the quarter. Versant Capital Management Inc’s holdings in Analog Devices were worth $203,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft increased its stake in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares during the period. CVA Family Office LLC raised its holdings in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares during the period. SouthState Corp boosted its stake in shares of Analog Devices by 28.6% during the second quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 50 shares in the last quarter. Finally, Investment Partners LTD. increased its holdings in Analog Devices by 2.9% during the second quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock valued at $399,000 after buying an additional 50 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 0.8 %

Shares of Analog Devices stock opened at $226.51 on Tuesday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market cap of $112.40 billion, a PE ratio of 52.92, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The firm has a fifty day moving average price of $222.83 and a 200 day moving average price of $218.72.

Analog Devices (NASDAQ:ADI) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.49 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. Analog Devices’s dividend payout ratio is presently 85.98%.

Analysts Set New Price Targets

Several analysts have issued reports on ADI shares. Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by company insiders.

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.