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Dec 13, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Analog Devices (NYSE:ADI) was downgraded from Buy to Neutral at Citigroup today. The stock closed yesterday at $42.02 on volume of 1.7 million shares, below average daily volume of 2.0 million. 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 share prices have moved between a 52-week high of $42.45 and a 52-week low of $33.38 and closed yesterday at 26% above that low price at $42.02 per share. The 200-day and 50-day moving averages have moved 0.04% higher and 0.06% lower over the past week, respectively.
Analog Devices (NYSE:ADI) defies analysts with a current price ($42.02) 1.5% above its average consensus price target of $41.40. Analog Devices shares have support at the 50-day moving average (MA) of $39.61 and additional support at the 200-day MA of $38.73.
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.
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Copyright, Comtex News Network, Inc. 2012
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