The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Analog Devices Inc. shares valued at $687,317 were sold by Jain Vivek on Apr 04 ’24. At $197.56 per share, Jain Vivek sold 3,479 shares. The insider’s holdings dropped to 5,745 shares worth approximately $1.08 million following the completion of this transaction.
Also, ROCHE VINCENT sold 10,000 shares, netting a total of over 1,974,000 in proceeds. Following the sale of shares at $197.40 each, the insider now holds 51,039 shares.
Before that, CHAMPY JAMES had sold 1,228 shares from its account. In a trade valued at $242,702, the Director traded Analog Devices Inc. shares for $197.64 each. Upon closing the transaction, the insider’s holdings decreased to 1,228 shares, worth approximately $1.2 million.
As published in their initiating research note from Evercore ISI on April 16, 2024, Analog Devices Inc. [ADI] has been an Outperform and the price target has been revised to $254. Analysts at Cantor Fitzgerald started covering the stock with ‘”a Neutral”‘ outlook in a report released in late January. As of January 18, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for ADI. Earlier on January 04, 2024, Bernstein downgraded its rating. Their new recommendation was “a Mkt perform” for ADI stock which previously was a “an Outperform”.
Analyzing ADI Stock Performance
During the last five days, there has been a drop of approximately -5.57%. Over the course of the year, Analog Devices Inc. shares have dropped approximately -5.53%. Shares of the company reached a 52-week high of $204.20 on 04/09/24 and a 52-week low of $181.80 on 01/04/24. A 50-day SMA is recorded $193.05, while a 200-day SMA reached $185.61. Nevertheless, trading volume fell to 2.61 million shares from 2.76 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 186.05, which, if violated, would cause prices to drop to 184.53. In the upper region, resistance lies at 189.65. The next price resistance is at 191.73. RSI (Relative Strength Index) is 42.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.88, which suggests the price will decrease in the coming days. Percent R is at 94.43%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
