A company insider recently sold 2,400 shares of Analog Devices Inc. [ADI]. Should You Sale?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Analog Devices Inc. shares valued at $360,003 were sold by DOLUCA TUNC on Oct 04. At $150.00 per share, DOLUCA TUNC sold 2,400 shares. The insider’s holdings dropped to 69,157 shares worth approximately $9.55 million following the completion of this transaction.

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Also, DOLUCA TUNC sold 2,400 shares, netting a total of over 360,001 in proceeds. Following the sale of shares at $150.00 each, the insider now holds 70,157 shares.

Before that, Jain Vivek had sold 14,000 shares from its account. In a trade valued at $2,318,778, the SVP, Global Operations traded Analog Devices Inc. shares for $165.63 each. Upon closing the transaction, the insider’s holdings decreased to 14,000 shares, worth approximately $2.52 million.

As published in a research note from Barclays on October 24, 2022, Analog Devices Inc. [ADI] has been rated down from an Overweight to an Equal weight and the price target has been revised to $140 from $180. This represents a 1.41% premium over Thursday’s closing price. Analysts at Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid October. As of August 18, 2022, Needham has decreased its “Buy” rating to a “Hold” for ADI. Earlier on February 17, 2022, UBS resumed its rating. Their recommendation was “a Buy” for ADI stock.

Analyzing ADI Stock Performance

On Thursday, Analog Devices Inc. [NASDAQ: ADI] plunged -2.28% to $138.02. The stock’s lowest price that day was $137.79, but it reached a high of $141.01 in the same session. During the last five days, there has been a drop of approximately -1.89%. Over the course of the year, Analog Devices Inc. shares have dropped approximately -21.48%. Shares of the company reached a 52-week high of $180.01 on 08/15/22 and a 52-week low of $133.48 on 10/13/22. A 50-day SMA is recorded $146.42, while a 200-day SMA reached $156.52. Nevertheless, trading volume fell to 3.71 million shares from 3.33 million shares the previous day.

Support And Resistance Levels for Analog Devices Inc. (ADI)

According to the 24-hour chart, there is a support level at 136.87, which, if violated, would cause prices to drop to 135.72. In the upper region, resistance lies at 140.09. The next price resistance is at 142.16. RSI (Relative Strength Index) is 41.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.15, which suggests the price will decrease in the coming days. Percent R is at 97.32%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Analog Devices Inc. subject to short interest?

Stocks of Analog Devices Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.09 million shares to 5.86 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.95 million shares. A decline of -35.67% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.75 of the overall float, the days-to-cover ratio (short ratio) decline to 1.75.

Which companies own the most shares of Analog Devices Inc. (ADI)?

According to The Vanguard Group, Inc. filings, the company currently owns 43,701,789 shares, which is about 8.50% of the total ADI shares outstanding. The investor’s shares have appreciated by 444,658 from its previous 13-F filing of 43257131.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $3,410,069,213. SSgA Funds Management, Inc. reduced a -3.42% interest valued at $2.81 billion while JPMorgan Investment Management, I sold a -1,370,336 stake. A total of -106,765 shares of Analog Devices Inc. were sold by Massachusetts Financial Services during the quarter, and 756,009 were bought by Wellington Management Co. LLP. In its current portfolio, Franklin Advisers, Inc. holds 9,248,429 shares valued at $1.29 billion.

In terms of Analog Devices Inc. share price expectations, FactSet research, analysts set an average price target of $188.70 in the next 12 months, up nearly 34.52% from the previous closing price of $141.24. Analysts anticipate Analog Devices Inc. stock to reach $220.00 by 2022, with the lowest price target being $140.00. In spite of this, 29 analysts ranked Analog Devices Inc. stock as an Overweight at the end of 2022. On February 17, 2022, Truist assigned a price target of “a Buy” to the stock and reiterated coverage with a $208.


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