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Potential Price Increase for Analog Devices Inc. (ADI) After Recent Insider Activity

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In a filing, Analog Devices Inc. revealed its EVP & Pres. Global Bus. Units Bryant Gregory M unloaded Company’s shares for reported $4.12 million on Jun 13 ’24. In the deal valued at $233.94 per share,17,612 shares were sold. As a result of this transaction, Bryant Gregory M now holds 69,241 shares worth roughly $15.59 million.

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Then, ROCHE VINCENT sold 10,000 shares, generating $2,350,900 in total proceeds. Upon selling the shares at $235.09, the Chair & CEO now owns 51,039 shares.

Before that, CHAMPY JAMES sold 4,200 shares. Analog Devices Inc. shares valued at $980,910 were divested by the Director at a price of $233.55 per share. As a result of the transaction, CHAMPY JAMES now holds 6,371 shares, worth roughly $1.43 million.

TD Cowen reiterated its Analog Devices Inc. [ADI] rating to a Buy in a research note published on May 23, 2024; the price target was $270. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid May with a ‘”a Buy”‘ rating. Evercore ISI began covering ADI with “an Outperform” recommendation on April 16, 2024. Cantor Fitzgerald started covering the stock on January 23, 2024. It rated ADI as “a Neutral”.

Price Performance Review of ADI

On Monday, Analog Devices Inc. [NASDAQ:ADI] saw its stock fall -1.35% to $225.18. Over the last five days, the stock has lost -1.44%. Analog Devices Inc. shares have risen nearly 13.41% since the year began. Nevertheless, the stocks have risen 18.84% over the past one year. While a 52-week high of $241.88 was reached on 05/23/24, a 52-week low of $154.99 was recorded on 01/04/24. SMA at 50 days reached $218.94, while 200 days put it at $193.80. A total of 2.3 million shares were traded, compared to the trading of 3.63 million shares in the previous session.

Levels Of Support And Resistance For ADI Stock

The 24-hour chart illustrates a support level at 223.75, which if violated will result in even more drops to 222.32. On the upside, there is a resistance level at 226.78. A further resistance level may holdings at 228.38. The Relative Strength Index (RSI) on the 14-day chart is 46.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.44%. Stochastics%K at 9.89% indicates the stock is a buying.

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