Berkshire Asset Management LLC PA trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 17.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,236 shares of the semiconductor company’s stock after selling 661 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Analog Devices were worth $341,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Legacy Financial Advisors Inc. boosted its position in Analog Devices by 9,766.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 293 shares in the last quarter. PRW Wealth Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Bruderman Asset Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $31,000. Liberty Wealth Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $33,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Analog Devices in the fourth quarter valued at approximately $34,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on ADI shares. Morgan Stanley lowered shares of Analog Devices from an “overweight” rating to an “equal weight” rating and set a $88.05 target price on the stock. in a research report on Tuesday, December 18th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Royal Bank of Canada lowered shares of Analog Devices from an “outperform” rating to a “sector perform” rating and set a $81.00 target price on the stock. in a research report on Friday, January 4th. Bank of America lowered shares of Analog Devices from a “buy” rating to a “neutral” rating in a research report on Friday, January 4th. Finally, Evercore ISI cut their target price on shares of Analog Devices from $105.00 to $96.00 in a research report on Monday, January 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Analog Devices presently has an average rating of “Buy” and an average price target of $102.86.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. Analog Devices’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 5.45 EPS for the current year.
In related news, SVP Martin Cotter sold 680 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $109.62, for a total value of $74,541.60. Following the transaction, the senior vice president now owns 173 shares in the company, valued at $18,964.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Margaret K. Seif sold 2,700 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $100.47, for a total transaction of $271,269.00. Following the completion of the transaction, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,463,222.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,570 shares of company stock worth $10,732,094. 0.50% of the stock is owned by company insiders.
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Analog Devices Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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