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ADI $223.2800
$-2.1400 
-0.95%
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Volume (M):
2,124
Open :
222.39 52 Wk Avg :
200.49
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Analog Devices Inc ADI OHLC Open High Low Closing Chart
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What happened with Analog Devices Inc's Stock |
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Analog Devices Inc. Stock Shows Resilience Amid Broader Sector Declines in July 2024
In July 2024, Analog Devices Inc. exhibited a notable performance, with its stock price rising from $226.70 to $231.38, marking an increase of 2.75%. This upward trend is particularly impressive considering that the broader semiconductor industry faced significant challenges, returning an average decline of 15.78%. Analog Devices' performance outpaced the general market by 0.86%, indicating its resilience amidst sector-wide downturns.
The month saw volatility, with shares reaching a peak of $244.14 on July 17, reflecting investor optimism. However, this was tempered by a subsequent decline, as the stock dipped to a low of $217.25 on July 25. Notably, July 22 was marked as the company's worst day when shares fell by 4.05%. This volatility emphasized the broader context of market trends affecting the technology sector, particularly in semiconductors.
Over the past quarter, Analog Devices has consistently outperformed the CSIMarkets index that tracks its suppliers, further underscoring its competitive position within the industry. In a month where many peers struggled, Analog Devices managed to showcase strength, making strategic advancements while mitigating the impact of external pressures. Overall, the stock's resilience against significant market fluctuations paints a positive outlook for the company's ongoing performance.
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'Analog Devices Inc. Shares Witness Decline in June 2024 Amid Semiconductor Industry Gains'
Throughout June 2024, Analog Devices Inc. experienced a notable decline in its share values, dropping by 1.88%. The stock opened the month at $235.09 and closed at $228.26. This performance is in contrast to the broader trends within the semiconductor industry, which saw an average uptick of 1.73% during the same period.
A review of the month reveals key fluctuations in Analog Devices Inc.?s share prices. The highest price point for the stock was recorded on June 12, 2024, when shares hit $240.58. Conversely, the lowest price occurred on June 25, 2024, with shares dipping to $225.84. Despite these variations, the overall trend throughout the month was a downward trajectory.
ly, while Analog Devices Inc. shares faced challenges, they performed better over the past quarter compared to the CSIMarkets index, which tracks the company's suppliers. This indicates some relative strength in Analog Devices Inc.'s longer-term performance against its supply chain counterparts.
However, it's essential to highlight that Analog Devices Inc. shares underperformed relative to the broader market throughout June. This underperformance could be attributed to multiple factors, including sector-specific challenges or broader economic conditions affecting the company's operations and investor sentiment.
In summary, June 2024 was a challenging month for Analog Devices Inc. Despite a brief peak mid-month, shares ultimately declined, contrasting with the overall positive performance of the semiconductor industry. The relative quarterly outperformance against the supplier index suggests potential areas of resilience, but the month-end close signifies that the company might need to address underlying issues to stabilize and enhance shareholder value moving forward.
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