Analog Devices (NASDAQ:ADI) has tumbled 1.7% during the past week and has dropped 0.97% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.52%. Analog Devices (NASDAQ:ADI) has underperformed the index by 1.88% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Analog Devices (NASDAQ:ADI): The stock opened at $56.85 on Friday but the bulls could not build on the opening and the stock topped out at $56.85 for the day. The stock traded down to $55.61 during the day, due to lack of any buying support eventually closed down at $55.99 with a loss of -1.60% for the day. The stock had closed at $56.90 on the previous day. The total traded volume was 2,659,052 shares.
The company shares have dropped -17.69% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $68.60 and the one year low was seen on Jan 15, 2016. The 50-Day Moving Average price is $56.76 and the 200 Day Moving Average price is recorded at $55.66.
On the companys insider trading activities, Sicchitano Kenton J, director of Analog Devices Inc, unloaded 15,000 shares at an average price of $58.28 on April 7, 2016. The total amount of the transaction was worth $874,200, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Goldman Sachs initiates coverage on Analog Devices (NASDAQ:ADI) . The global brokerage major announces a current price target of $50 per share. Analysts at the Goldman Sachs have a current rating of Sell on the shares. The rating by the firm was issued on June 2, 2016. Currently the company Insiders own 0.9% of Analog Devices shares according to the proxy statements. Institutional Investors own 87.65% of Analog Devices shares. During last six month period, the net percent change held by insiders has seen a change of -44.13%.
Analog Devices, Inc. is engaged in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits (ICs). The Company is focused on solving the engineering challenges associated with signal processing in electronic equipment. The Companys produces a wide range of products including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro-electro mechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors that are designed to meet the needs of a broad base of customers. The Company focuses on strategic markets where its signal processing technology is often a critical differentiator in its customers products, in the industrial, automotive, consumer and communications markets.