Analog Devices (ADI) : Traders are bullish on Analog Devices (ADI) as it has outperformed the S&P 500 by a wide margin of 5.71% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.81%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.86% in the last 1 week, and is up 6.8% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.9% and the 50-Day Moving Average is 8.63%. Analog Devices (NASDAQ:ADI): stock turned positive on Friday. Though the stock opened at $64.06, the bulls momentum made the stock top out at $64.36 level for the day. The stock recorded a low of $63.77 and closed the trading day at $64.24, in the green by 0.16%. The total traded volume for the day was 1,357,770. The stock had closed at $64.14 in the previous days trading.
The company Insiders own 0.9% of Analog Devices shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -14.12% . Institutional Investors own 86.85% of Analog Devices shares. During last six month period, the net percent change held by insiders has seen a change of -14.12%. Also, Equity analysts at the Brokerage firm BMO Capital maintains its rating on Analog Devices (NASDAQ:ADI). The rating major has initiated the coverage with outperform rating on the shares. The Analysts at BMO Capital raises the price target from $65 per share to $85 per share. The rating by the firm was issued on August 1, 2016.
Analog Devices, Inc. is engaged in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits (ICs). The Company is focused on solving the engineering challenges associated with signal processing in electronic equipment. The Companys produces a wide range of products including 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 and other processors that are designed to meet the needs of a broad base of customers. The Company focuses on strategic markets where its signal processing technology is often a critical differentiator in its customers products, in the industrial, automotive, consumer and communications markets.