Examining the Potential Price Growth of Analog Devices Inc. (ADI)

Analog Devices Inc.’s recently made public that its Chair & CEO ROCHE VINCENT unloaded Company’s shares for reported $1.92 million on Feb 01. In the deal valued at $192.11 per share,10,000 shares were sold. As a result of this transaction, ROCHE VINCENT now holds 5,713 shares worth roughly $1.11 million.

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Then, ROCHE VINCENT sold 10,000 shares, generating $1,970,700 in total proceeds. Upon selling the shares at $197.07, the Chair & CEO now owns 5,713 shares.

Before that, CHAMPY JAMES sold 8,460 shares. Analog Devices Inc. shares valued at $1,698,007 were divested by the Director at a price of $200.71 per share. As a result of the transaction, CHAMPY JAMES now holds 6,371 shares, worth roughly $1.24 million.

Cantor Fitzgerald initiated its Analog Devices Inc. [ADI] rating to a Neutral in a research note published on Monday, January 23, 2024; the price target was $205.

Price Performance Review of ADI

On Monday, Analog Devices Inc. [NASDAQ:ADI] saw its stock fall -0.50% to $194.05. Over the last five days, the stock has gained 0.77%. Analog Devices Inc. shares have fallen nearly -2.27% since the year began. Nevertheless, the stocks have risen 8.70% over the past one year. While a 52-week high of $202.77 was reached on 01/24/24, a 52-week low of $154.99 was recorded on 01/04/24. SMA at 50 days reached $192.06, while 200 days put it at $183.58. A total of 6.26 million shares were traded, compared to the trading of 3.18 million shares in the previous session.

Levels Of Support And Resistance For ADI Stock

The 24-hour chart illustrates a support level at 192.54, which if violated will result in even more drops to 191.04. On the upside, there is a resistance level at 195.62. A further resistance level may holdings at 197.19. The Relative Strength Index (RSI) on the 14-day chart is 52.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.43, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.24%. Stochastics %K at 41.14% indicates the stock is a holding.

How much short interest is there in Analog Devices Inc.?

A steep rise in short interest was recorded in Analog Devices Inc. stocks on Jan 31, 2024, dropping by -1.03 million shares to a total of 6.86 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 7.89 million shares. There was a decline of -15.01%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.39% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.21.

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