Analog Devices Inc. Looks to Continue to Trade Above its Annual-High Share Price Today

IBN Spotlights
Friday, September 24, 2021 at 3:51pm UTC

Analog Devices Inc. (NASDAQ:ADI) traded today at a new 52-week high of $178.28. So far today approximately 691,000 shares have been exchanged, as compared to an average 30-day volume of 6.2 million shares.

Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices’ chips are also incorporated into wireless infrastructure equipment.

Analog Devices Inc. (NASDAQ:ADI) is currently priced 29.9% above its average consensus analyst price target of $124.64.

Over the past year, Analog Devices Inc. has traded in a range of $110.66 to $178.28 and is now at $177.85, 61% above that low.

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