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Upgrade Alert for Analog Devices (ADI)

By Nick Russo

Analog Devices (NYSE:ADI) was upgraded from Equal Weight to Overweight at Morgan Stanley today. The stock closed yesterday at $63.33 on volume of 14.9 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 34% above that low price at $63.33 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.2%.

Analog Devices has overhead space with shares priced $63.33, or 6.0% below the average consensus analyst price target of $67.39. The stock should discover initial support at its 50-day moving average (MA) of $57.43 and subsequent support at its 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