Today’s Stock Alert: Could Analog Devices, Inc. Change Direction After Reaching 52-Week High?

Today's Stock Alert: Could Analog Devices, Inc. Change Direction After Reaching 52 Week High?

The stock of Analog Devices, Inc. (NASDAQ:ADI) hit a new 52-week high and has $116.34 target or 68.00% above today’s $69.25 share price. The 8 months bullish chart indicates low risk for the $21.40 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $116.34 price target is reached, the company will be worth $14.55 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 216,652 shares traded hands. Analog Devices, Inc. (NASDAQ:ADI) has risen 17.59% since April 19, 2016 and is uptrending. It has outperformed by 13.73% the S&P500.

Analog Devices, Inc. (NASDAQ:ADI) Ratings Coverage

Out of 24 analysts covering Analog Devices (NASDAQ:ADI), 13 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 54% are positive. $80 is the highest target while $50 is the lowest. The $62 average target is -10.47% below today’s ($69.25) stock price. Analog Devices has been the topic of 62 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Nomura on Thursday, August 20 to “Reduce”. As per Thursday, August 18, the company rating was maintained by Citigroup. On Monday, September 14 the stock rating was upgraded by Evercore to “Buy”. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, July 1 report. The stock of Analog Devices, Inc. (NASDAQ:ADI) has “Neutral” rating given on Wednesday, August 19 by Maxim Group. The stock of Analog Devices, Inc. (NASDAQ:ADI) earned “Outperform” rating by BMO Capital Markets on Wednesday, October 14. M Partners maintained it with “Neutral” rating and $64 target price in Wednesday, November 25 report. The firm earned “Neutral” rating on Thursday, August 6 by Susquehanna. The stock of Analog Devices, Inc. (NASDAQ:ADI) earned “Buy” rating by Stifel Nicolaus on Friday, January 15. Goldman Sachs upgraded the shares of ADI in a report on Wednesday, July 27 to “Neutral” rating.

According to Zacks Investment Research, “Analog Devices, Inc. is one of the world leaders in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits used in signal processing applications. Applications for its products include communications, cellular telephones, computers and computer peripherals, consumer electronics, automotive electronics, factory automation, process control and military and space systems.”

Insitutional Activity: The institutional sentiment increased to 1.23 in 2016 Q2. Its up 0.23, from 1 in 2016Q1. The ratio improved, as 44 funds sold all Analog Devices, Inc. shares owned while 171 reduced positions. 41 funds bought stakes while 174 increased positions. They now own 259.50 million shares or 3.30% less from 268.36 million shares in 2016Q1.
The New York-based Secor Capital Limited Partnership has invested 0.41% in Analog Devices, Inc. (NASDAQ:ADI). Clean Yield Gru holds 0.01% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI) for 265 shares. Moreover, Valley National Advisers has 0.26% invested in Analog Devices, Inc. (NASDAQ:ADI) for 8,712 shares. The Pennsylvania-based Janney Montgomery Scott Ltd Co has invested 0% in Analog Devices, Inc. (NASDAQ:ADI). Morgan Stanley owns 450,908 shares or 0.01% of their US portfolio. Los Angeles & Equity Rech Inc has 0.01% invested in the company for 20,760 shares. Broderick Brian C holds 4,989 shares or 0.12% of its portfolio. The Ohio-based Huntington State Bank has invested 0.36% in Analog Devices, Inc. (NASDAQ:ADI). Adage Cap Prtn Gru Ltd Liability Com, a Massachusetts-based fund reported 402,006 shares. Texas Permanent School Fund has invested 0.07% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI). Geode Cap Mngmt Limited Liability Company accumulated 2.63 million shares or 0.08% of the stock. Janus Mngmt Limited Liability Company, a Colorado-based fund reported 52,100 shares. Mufg Americas Hldg reported 91,180 shares or 0.18% of all its holdings. Plante Moran Finance Advsrs Limited Liability Corporation holds 0.06% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI) for 1,544 shares. Raymond James & Associates owns 201,011 shares or 0.04% of their US portfolio.

Insider Transactions: Since July 15, 2016, the stock had 0 insider buys, and 11 sales for $10.24 million net activity. 7,500 shares with value of $483,143 were sold by HODGSON JOHN C on Tuesday, October 4. Hess Rick D also sold $375,780 worth of Analog Devices, Inc. (NASDAQ:ADI) shares. Shares for $964,935 were sold by Zinsner David. Shares for $1.58M were sold by STATA RAY on Wednesday, September 21. Cotter Martin sold $629,120 worth of Analog Devices, Inc. (NASDAQ:ADI) on Tuesday, September 27. On Thursday, August 18 Wynne Eileen sold $160,890 worth of the stock or 2,504 shares. Real Peter also sold $416,904 worth of Analog Devices, Inc. (NASDAQ:ADI) shares.

More news for Analog Devices, Inc. (NASDAQ:ADI) were recently published by: Forbes.com, which released: “January 2019 Options Now Available For Analog Devices (ADI)” on November 14, 2016. Benzinga.com‘s article titled: “Analog Devices Is One Of Morgan Stanley’s Top Overweight Picks” and published on November 16, 2016 is yet another important article.

ADI Company Profile

Analog Devices, Inc., incorporated on January 18, 1965, is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating divisions include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia. The Company’s signal processing products help in converting, conditioning and processing real-world phenomena, such as temperature, pressure, sound, light, speed and motion into electrical signals, which are to be used in a range of electronic devices. The Firm combines data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro-electro mechanical systems (MEMS) technology and other sensors, and processing products, including DSP, micro controllers and other processors, into technology platforms. The Company’s products are embedded inside various types of electronic equipment, including industrial process control systems, medical imaging equipment, factory automation systems, patient monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles and portable electronic devices.

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