Boost

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>ADI stock price: The stock is experiencing recent volatility because of the semiconductor boom.</a> </li> 
 <li> <span>2</span> <a>The company has improved its profitability ratios as of last year.</a> </li> 
 <li> <span>3</span> <a>Its current stock price is near a demand zone, see whether the bulls can claim it.</a> </li> 
</ul> 
<p>Analog Devices Inc. (NASDAQ: ADI) is a semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). They make different kinds of chips like ones that help with sound and power. Many industries like automotive and communication companies use these chips. Semiconductor stocks have gained a lot of attention since the semiconductor boom, especially after the NFT hype has died down.</p> 
<h2 class="wp-block-heading" id="strong-financial-performance-of-the-company-strong"><strong>Financial Performance of the Company</strong></h2> 
<p>The company posted strong financial results for the 2nd quarter that ended in April. The company’s sales amounted to $3.26 billion. Its earnings per share stood at $1.92. These figures surpassed the estimates of analysts. However, when we fast forward to the recent quarter, the sales have been down to $3.08B, which last decreased the earnings per share to $1.7B.</p> 
<p>The profitability ratios are growing for the Trailing twelve months (TTM). The return on equity has grown from 7.38% to 10.32%, while the company is returning 8.8% on the invested capital as compared to last year’s 6.25%. Analog Devices, Inc.’s operating profit margin (inclusive of Depreciation) is 31%, while its net profit margin is 28.5%. Both of them have grown as compared to last year.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-adi-stock-price-strong"><strong>Technical Analysis and Prediction of the ADI Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588.png" alt="ADI Stock: A Semiconductor Large Cap That Can Boost Your Portfolio" class="wp-image-176961" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-588-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3ASOFI"><strong> </strong>TradingView<strong> </strong></a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>At the time of writing, the ADI <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">stock price</a> has broken a few critical support levels and is currently trading at $171. This level is close to its immediate support level, which is at $169. Similarly, the immediate resistance for ADI stock price is situated at $182.</p> 
<p>Apart from these immediate pivot levels for the stock, the second support and resistance levels are at $158 and $196, respectively. These zones will be active once a breakout comes from either side. The RSI is currently consolidating near its neutral level of 50. The RSI is at 41 while its Simple moving average line is at 43, which indicates a slight depletion in bullish strength</p> 
<p>The price prediction for the ADI stock will be bearish if the bears break past this support level. This price action will result in the stock moving toward its 2nd support. However, if the bulls reclaim this support, they will make a high to the immediate resistance level in an attempt to break it.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Analog Devices Inc. (NASDAQ: ADI) is a semiconductor company that is performing decently on a fundamental basis. Recently, the profitability ratios have increased on the yearly comparison. The current ADI&nbsp; stock price is near a support level and the prediction will depend upon the strength of bulls.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $169 and $158</li> 
 <li><strong>Resistance Levels: </strong>$182 and $196</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

ADI Stock: A Semiconductor Large Cap That Can Boost Your Portfolio

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