Analog Devices (ADI) : Traders are bullish on Analog Devices (ADI) as it has outperformed the S&P 500 by a wide margin of 2.93% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.64%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.17% in the last 1 week, and is up 7.43% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 6.11% and the 50-Day Moving Average is 6.2%.
Analog Devices (NASDAQ:ADI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $60.25 and $59.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $60.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $60.15, notching a gain of 0.22% for the day. The total traded volume was 1,985,333 . The stock had closed at $60.02 on the previous day.
The company Insiders own 0.9% of Analog Devices shares according to the proxy statements. Institutional Investors own 87.66% of Analog Devices shares. In a related news,The officer (SVP, Comm & Automotive Group) of Analog Devices Inc, Hess Rick D sold 6,000 shares at $60.03 on July 15, 2016. The Insider selling transaction had a total value worth of $360,180. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.