Berkshire Asset Management LLC PA lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 31.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,920 shares of the semiconductor company’s stock after buying an additional 944 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Analog Devices were worth $362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Washington Trust Bank lifted its stake in shares of Analog Devices by 127.7% during the second quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 600 shares during the period. Fort L.P. purchased a new position in Analog Devices during the second quarter worth approximately $117,000. Integrated Investment Consultants LLC purchased a new position in Analog Devices during the second quarter worth approximately $130,000. Clarus Wealth Advisors purchased a new position in Analog Devices during the second quarter worth approximately $139,000. Finally, Summit Trail Advisors LLC raised its stake in Analog Devices by 6,966.6% during the first quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 145,324 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on ADI shares. BidaskClub downgraded shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Zacks Investment Research downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. B. Riley cut their price target on shares of Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Thursday, August 23rd. Stifel Nicolaus increased their price target on shares of Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Finally, Raymond James downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research note on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $106.77.

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $92.81, for a total value of $928,100.00. Following the transaction, the chief executive officer now owns 27,376 shares of the company’s stock, valued at approximately $2,540,766.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 2,700 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $92.81, for a total transaction of $250,587.00. The disclosure for this sale can be found here. In the last three months, insiders sold 90,645 shares of company stock worth $8,862,608. Insiders own 0.70% of the company’s stock.

Shares of ADI stock opened at $84.17 on Friday. Analog Devices, Inc. has a 52 week low of $80.95 and a 52 week high of $103.59. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $34.36 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Analog Devices, Inc. will post 5.89 earnings per share for the current year.

Analog Devices announced that its board has authorized a share buyback plan on Tuesday, August 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

Recommended Story: Is the Dow Jones Industrial Average (DJIA) still relevant?

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI).

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.