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Upgrade Alert for Analog Devices (ADI)

By James Quinn

Analog Devices (NYSE:ADI) was upgraded from Sell to Neutral at Goldman Sachs today. The stock closed yesterday at $63.33 on volume of 14.9 million shares, above average daily volume of 1.7 million.

In the past 52 weeks, shares of Analog Devices have traded between a low of $47.24 and a high of $68.97 and closed yesterday at $63.33, which is 34% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.59% higher over the past week, respectively.

Analog Devices has overhead space with shares priced $63.33, or 6.0% below the average consensus analyst price target of $67.39. Analog Devices shares have support at the 50-day moving average (MA) of $57.43 and additional support at the 200-day MA of $56.63.

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.

SmarTrend recommended that subscribers consider buying shares of Analog Devices on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.20. Since that recommendation, shares of Analog Devices have risen 8.0%. We continue to monitor ADI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Analog Devices

Ticker(s): ADI