Downgrade Alert for Analog Devices (ADI)
Analog Devices (NYSE:ADI) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $52.55 on volume of 3.6 million shares, above average daily volume of 1.7 million.
Analog Devices share prices have moved between a 52-week high of $68.97 and a 52-week low of $47.24 and closed yesterday at 11% above that low price at $52.55 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.
Analog Devices, Inc. designs, manufactures, and markets integrated circuits used in analog and digital signal processing. The Company's products are used in communications, computer, industrial, instrumentation, military/aerospace, automotive, and high-performance consumer electronics applications. Analog Devices sells its products worldwide.
Analog Devices (NYSE:ADI) has potential upside of 28.2% based on a current price of $52.55 and analysts' consensus price target of $67.39. Analog Devices shares should first meet resistance at the 200-day moving average (MA) of $56.63 and find additional resistance at the 50-day MA of $57.43.
SmarTrend is monitoring the recent change of momentum in Analog Devices. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Analog Devices in search of a potential trend change.
Keywords: analyst upgrades/downgrades Analog Devices