Analog Devices Inc
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Information Technology : Semiconductors & Semiconductor Equipment | Large Cap Blend
Company profile

Analog Devices, Inc. (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products. The Company is a supplier of data converter products. The Company is a supplier of high-performance amplifiers. Its analog product line also includes products of high performance radio frequency (RF) ICs. The Company's DSPs are used for high-speed numeric calculations. The Company offers its products for applications in various end markets, such as industrial, automotive, consumer and communications. The Company operates in the United States, Rest of North/South America, Europe, Japan and China.

Closing Price
$157.26
Day's Change
1.84 (1.18%)
Bid
--
Ask
--
B/A Size
--
Day's High
158.35
Day's Low
156.02
Volume
(Light)
Volume:
2,706,596

10-day average volume:
3,776,225
2,706,596

Charting bull-flag breakout attempts: S&P 500, Nasdaq tag record territory

12:36 pm ET February 16, 2021 (MarketWatch)
Print

By Michael Ashbaugh, MarketWatch

Focus: Financials and transports stage tandem breakout attempt, XLF, IYT, ADI, IPHI, BLDR, LYFT

Technically speaking, the major U.S. benchmarks continue to trend higher, rising amid a still broadly constructive 2021 start.

More immediately, each big three U.S. benchmark has briefly tagged its latest record high early Tuesday, rising amid bull-flag breakout attempts that remain underway.

Before detailing the U.S. markets' wider view, the S&P 500's hourly chart highlights the past two weeks.

As illustrated, the S&P has cleared the range top, edging to its latest record high.

The prevailing upturn punctuates a bull flag, the prior relatively tight five-session range.

Tactically, the breakout point, circa 3,925, is followed by the former range bottom (3,885).

Meanwhile, the Dow Jones Industrial Average has sustained a recently less decisive break to record territory.

Nonetheless, the Dow's tight range underpinned by the breakout point -- the 31,236-to-31,272 area -- is technically constructive.

Against this backdrop, the Nasdaq Composite is challenging its range top.

Consider that Friday's session high (14,102) registered slightly under its record high (14,109).

The index briefly followed through early Tuesday, tagging previously uncharted territory. As always, it's the session close that matters. A breakout attempt is in play.

Widening the view to six months adds perspective.

On this wider view, the Nasdaq is consolidating a sharp early-February rally. Recall the initially decisive 2.0% breakout confirms its primary uptrend.

Tactically, the Nasdaq's first notable floor matches the breakout point (13,730).

More broadly, the prevailing upturn originates from major support matching the 2020 peak (12,973).

Looking elsewhere, the Dow Jones Industrial Average has sustained a less decisive break to record highs.

The prevailing upturn marks about a 0.6% breakout, not yet confirming its primary trend.

Nonetheless, the sharp V-shaped reversal from last-ditch support (29,964) -- and grinding-higher follow-through -- are technically constructive.

Recall that the former range top pivots to support, an area also detailed on the hourly chart.

Meanwhile, the S&P 500 has slightly extended its February break to record territory.

Recall that the prevailing flag -- the S&P's tight mid-month range -- is a bullish continuation pattern.

The bigger picture

Collectively, the major U.S. benchmarks are acting well technically.

On a headline basis, each big three benchmark has asserted a flag-like pattern -- tight one-week ranges -- signaling still muted selling pressure near record highs.

Against this backdrop, each index has at least briefly tagged a record high early Tuesday. Breakout attempts are underway.

Moving to the small-caps, the iShares Russell 2000 ETF (IWM) is digesting the most decisive breakout of the widely-tracked U.S. benchmarks.

As detailed repeatedly, the initial spike marked an unusually strong two standard deviation breakout, encompassing four straight closes atop the 20-day Bollinger bands (https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=IWM&x=37&y=18&time=7&startdate=1%2F4%2F1999&enddate=2%2F8%2F2021&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=1&maval=20&uf=8&lf=1&lf2=0&lf3=0&type=4&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11).

Separately, the early-month rally marked a massive 4.8% breakout, confirming its primary uptrend.

Though near-term extended -- and a sideways chopping-around phase is underway -- the statistically unusual rally is likely longer-term bullish.

Meanwhile, the SPDR S&P MidCap 400 ETF (MDY) has extended a less decisive breakout.

Recall that the prevailing upturn originates from the breakout point (425.30), an area matching the 2020 peak.

Looking elsewhere, the SPDR Trust S&P 500 (SPY) has fractionally extended its uptrend amid grinding-higher price action.

Recall that the prevailing upturn originates from major support closely matching the 50-day moving average.

Placing a finer point on the S&P 500, the has narrowly tagged its latest record high to punctuate a five-session flag pattern. A breakout attempt is in play.

On further strength, a near-term target continues to project from the S&P's late-January range to the 4,010 area, about 1.9% above current levels.

Conversely, the S&P's breakout point (3,870) is followed by an inflection point in the 3,830 area.

Delving deeper, the 50-day moving average, currently 3,775, is followed by the former range bottom (3,750).

Also recall that likely last-ditch support points match the December gap (3,723) and late-January low (3,694). An eventual violation would mark a material "lower low" likely raising a caution flag.

Beyond specific levels, the S&P 500's intermediate-term uptrend remains firmly-grounded based on today's backdrop.

Also see: Charting a grinding-higher breakout, S&P 500 tags latest record peak (http://www.marketwatch.com/story/charting-a-grinding-higher-breakout-sp-500-tags-latest-record-peak-2021-02-09-121033223).

Tuesday's Watch List

The charts below detail names that are technically well positioned. These are radar screen names -- sectors or stocks poised to move in the near term. For the original comments on the stocks below, see The Technical Indicator Library (http://www.marketwatch.com/premium-newsletters/archive/technical-indicator).

Drilling down further, the Financial Select Sector SPDR (XLF) is rattling the cage on a potential breakout. (Yield = 2.0%.)

More specifically, the group has rallied to the range top, rising to challenge its record high (31.62) established last month.

The tight prevailing one-week range signals muted selling pressure near resistance, improving the chances of eventual follow-through. An intermediate-term target projects to the 33.50 area.

Slightly more broadly, the prevailing upturn originates from the breakout point, circa 29,00, a bull-bear fulcrum detailed previously. (See the Jan. 26 review (http://www.marketwatch.com/story/charting-market-rotation-sp-500-presses-record-territory-2021-01-26-121034046) and Feb. 1 review (http://www.marketwatch.com/story/charting-shaky-technical-tests-us-benchmarks-maintain-key-support-2021-02-01).)

Meanwhile, the iShares Transportation Average ETF (IYT) has also reached a major test.

Here again, the group is challenging its record high matching the January peak (232.97). An intermediate-term target projects to the 250 area on follow-through.

Tactically, the prevailing upturn punctuates a successful test of major support -- the 212.80-to-214.50 area -- detailed previously (http://www.marketwatch.com/story/charting-market-rotation-sp-500-presses-record-territory-2021-01-26-121034046). (See the Jan. 26 review (http://www.marketwatch.com/story/charting-market-rotation-sp-500-presses-record-territory-2021-01-26-121034046).)

(The January low (212.80), established Jan. 29, precisely matched last-ditch support.)

Combined, the transports and financials are traditional sector leaders. The tandem breakout attempts signal a firmly-grounded U.S. sub-sector backdrop.

Initially profiled Dec. 2, Analog Devices, Inc.(ADI) has returned 14.2% and remains well positioned.

Technically, the shares have rallied to the range top, rising to press record territory.

The prevailing upturn punctuates a successful test of the breakout point (146.10) and the 50-day moving average. Tactically, a breakout attempt is in play barring a violation of near-term support, circa 154.25.

Inphi Corp. (IPHI) is a well positioned large-cap semiconductor name.

As illustrated, the shares have staged an orderly pullback from record highs, finding support slightly above the breakout point. The prevailing upturn positions the shares for a potential retest of the January peak.

Tactically, the 50-day moving average, currently 164.40, has marked a bull-bear inflection point. The prevailing uptrend is comfortably intact barring a violation.

Public since March 2019, Lyft, Inc. (LYFT) is a well positioned large-cap name.

Technically, the shares have staged a nearly straightline February rally, knifing to 17-month highs. The upturn has been punctuated by last week's strong-volume spike after the company's fourth-quarter results.

Though near-term extended, and due to consolidate, the shares are attractive on a pullback. Tactically, gap support (55.26) is followed by the firmer breakout point (50.70).

More broadly, the prevailing upturn punctuates an orderly two-month range hinged to the November vaccine-fueled gap atop the 200-day moving average. Bullish price action.

Finally, Builders FirstSource, Inc. (BLDR) -- initially profiled Aug. 18 -- has returned 44.6% and remains well positioned.

Earlier this month, the shares rallied to record highs, edging atop resistance matching the December and January peaks.

The subsequent flag -- the tight one-week range -- is a bullish continuation pattern, likely positioning the shares to extend the uptrend. Tactically, the breakout point (42.40) is closely followed by the post-breakout low (42.12) and the ascending 50-day moving average, currently 39.95.

Still well positioned

The table below includes names recently profiled in The Technical Indicator that remain well positioned. For the original comments, see The Technical Indicator Library. (http://www.marketwatch.com/premium-newsletters/archive/technical-indicator)

2021-02-16 17:36:00 GMT MW Charting bull-flag breakout attempts: S&P 500, -2-

-Michael Ashbaugh; 415-439-6400; AskNewswires@dowjones.com

Company                                            Symbol* (Click symbol for chart.)  Date Profiled 
Intel Corp.                                        INTC                               Feb. 12 
KLA Corp.                                          KLAC                               Feb. 12 
Pinterest, Inc.                                    PINS                               Feb. 12 
Nvidia Corp.                                       NVDA                               Feb. 11 
Veeva Systems, Inc.                                VEEV                               Feb. 11 
Helmerich & Payne, Inc.                            HP                                 Feb. 11 
Zoom Video Communications, Inc.                    ZM                                 Feb. 10 
Hologic, Inc.                                      HOLX                               Feb. 10 
McDonald's Corp.                                   MCD                                Feb. 10 
U.S. Global Jets ETF                               JETS                               Feb. 9 
Lowe's Companies, Inc.                             LOW                                Feb. 9 
Motorola Solutions, Inc.                           MSI                                Feb. 9 
iShares U.S. Home Construction ETF                 ITB                                Feb. 8 
Lennar Corp.                                       LEN                                Feb. 8 
Nike, Inc.                                         NKE                                Feb. 8 
Beyond Meat, Inc.                                  BYND                               Feb. 8 
Cisco Systems, Inc.                                CSCO                               Feb. 5 
KeyCorp                                            KEY                                Feb. 5 
Datadog, Inc.                                      DDOG                               Feb. 5 
Appian Corp.                                       APPN                               Feb. 4 
Diamondback Energy, Inc.                           FANG                               Feb. 4 
Gogo, Inc.                                         GOGO                               Feb. 4 
Wix.com, Ltd.                                      WIX                                Feb. 3 
CarMax, Inc.                                       KMX                                Feb. 3 
Toll Brothers, Inc.                                TOL                                Feb. 2 
Eagle Materials, Inc.                              EXP                                Feb. 2 
Avis Budget Group, Inc.                            CAR                                Feb. 1 
Capital One Financial Corp.                        COF                                Jan. 29 
NetApp, Inc.                                       NTAP                               Jan. 29 
Aptiv, plc                                         APTV                               Jan. 29 
Rio Tinto Group                                    RIO                                Jan. 26 
Sorrento Therapeutics, Inc.                        SRNE                               Jan. 26 
Netflix, Inc.                                      NFLX                               Jan. 25 
Cummins, Inc.                                      CMI                                Jan. 25 
Invesco Solar ETF                                  TAN                                Jan. 22 
Magna International, Inc.                          MGA                                Jan. 22 
M.D.C. Holdings, Inc.                              MDC                                Jan. 22 
Zebra Technologies Corp.                           ZBRA                               Jan. 14 
Chegg, Inc.                                        CHGG                               Jan. 11 
Macy's, Inc.                                       M                                  Jan. 11 
Nexstar Media Group, Inc.                          NXST                               Jan. 11 
iShares Transportation Average ETF                 IYT                                Jan. 11 
Energy Select Sector SPDR                          XLE                                Jan. 8 
Teledoc Health, Inc.                               TDOC                               Jan. 8 
Skyworks Solutions, Inc.                           SWKS                               Jan. 7 
Financial Select Sector SPDR                       XLF                                Jan. 7 
Synaptics, Inc.                                    SYNA                               Jan. 4 
Sunrun, Inc.                                       RUN                                Dec. 23 
ShockWave Medical, Inc.                            SWAV                               Dec. 23 
JPMorgan Chase & Co.                               JPM                                Dec. 22 
Ballard Power Systems, Inc.                        BLDP                               Dec. 21 
LivePerson, Inc.                                   LPSN                               Dec. 21 
United Therapeutics Corp.                          UTHR                               Dec. 21 
Shopify, Inc.                                      SHOP                               Dec. 18 
CyberArk Software Ltd.                             CYBR                               Dec. 18 
Calix, Inc.                                        CALX                               Dec. 17 
Elastic N.V.                                       ESTC                               Dec. 17 
Tenet Healthcare Corp.                             THC                                Dec. 16 
Williams-Sonoma, Inc.                              WSM                                Dec. 15 
iShares Nasdaq Biotechnology ETF                   IBB                                Dec. 15 
SDPR S&P Regional Banking ETF                      KRE                                Dec. 14 
Etsy, Inc.                                         ETSY                               Dec. 14 
Plug Power, Inc.                                   PLUG                               Dec. 9 
F5 Networks, Inc.                                  FFIV                               Dec. 8 
Emerson Electric Co.                               EMR                                Dec. 8 
Zscaler, Inc.                                      ZS                                 Dec. 7 
Fortinet, Inc.                                     FTNT                               Dec. 7 
Kulicke and Soffa Industries, Inc.                 KLIC                               Dec. 7 
Dillard's, Inc.                                    DDS                                Dec. 4 
Spotify Technology S.A.                            SPOT                               Dec. 3 
Valero Energy Corp.                                VLO                                Dec. 3 
Analog Devices, Inc.                               ADI                                Dec. 2 
Sonos, Inc.                                        SONO                               Dec. 1 
American Airlines Group, Inc.                      AAL                                Nov. 30 
Zillow Group, Inc.                                 ZG                                 Nov. 23 
Bank of America Corp.                              BAC                                Nov. 20 
SPDR S&P Oil & Gas Exploration and Production ETF  XOP                                Nov. 20 
MetLife, Inc.                                      MET                                Nov. 19 
Kohl's Corp.                                       KSS                                Nov. 18 
Applied Materials, Inc.                            AMAT                               Nov. 17 
RingCentral, Inc.                                  RNG                                Nov. 13 
Regions Financial Corp.                            RF                                 Nov. 13 
Snap, Inc.                                         SNAP                               Nov. 9 
Norfolk Southern Corp.                             NSC                                Nov. 9 
Communications Services Select Sector SPDR         XLC                                Nov. 5 
Health Care Select Sector SPDR                     XLV                                Nov. 5 
Alphabet, Inc.                                     GOOGL                              Nov. 5 
Keysight Technologies, Inc.                        KEYS                               Nov. 4 
8x8, Inc.                                          EGHT                               Nov. 3 
Exact Sciences Corp.                               EXAS                               Nov. 2 
Universal Display Corp.                            OLED                               Nov. 2 
Dentsply Sirona, Inc.                              XRAY                               Oct. 27 
Maxim Integrated Products, Inc.                    MXIM                               Oct. 21 
The Travelers Companies, Inc.                      TRV                                Oct. 21 
Micron Technology, Inc.                            MU                                 Oct. 20 
Vulcan Materials Co.                               VMC                                Oct. 19 
ON Semiconductor Corp.                             ON                                 Oct. 16 
Ford Motor Co.                                     F                                  Oct. 15 
First Solar, Inc.                                  FSLR                               Oct. 13 
SPDR S&P Homebuilders ETF                          XHB                                Oct. 9 
Shake Shack, Inc.                                  SHAK                               Oct. 9 
SPDR S&P Biotech ETF                               XBI                                Oct. 8 
Twilio, Inc.                                       TWLO                               Oct. 8 
Cloudflare, Inc.                                   NET                                Oct. 7 
SailPoint Technology Holdings, Inc.                SAIL                               Oct. 1 
Martin Marietta Materials, Inc.                    MLM                                Sept. 30 

2021-02-16 17:36:00 GMT MW Charting bull-flag breakout attempts: S&P 500, -3-

Abercrombie & Fitch Co.                            ANF                                Sept. 29 
Zendesk, Inc.                                      ZEN                                Sept. 23 
Scientific Games Corp.                             SGMS                               Sept. 23 
Crocs, Inc.                                        CROX                               Sept. 14 
Five Below, Inc.                                   FIVE                               Sept. 10 
Eastman Chemical Co.                               EMN                                Sept. 10 
Deere & Co.                                        DE                                 Aug. 24 
Johnson Controls International                     JCI                                Aug. 21 
Canadian Solar, Inc.                               CSIQ                               Aug. 20 
General Motors Co.                                 GM                                 Aug. 20 
Builders FirstSource, Inc.                         BLDR                               Aug. 18 
Enphase Energy, Inc.                               ENPH                               Aug. 13 
Freeport McMoRan, Inc.                             FCX                                Aug. 10 
Industrial Select Sector SPDR                      XLI                                Aug. 6 
Penn National Gaming, Inc.                         PENN                               July 30 
SPDR S&P Metals & Mining ETF                       XME                                July 28 
iShares MSCI South Korea ETF                       EWY                                July 28 
Advanced Micro Devices, Inc.                       AMD                                July 23 
Materials Select Sector SPDR                       XLB                                July 20 
Caterpillar, Inc.                                  CAT                                July 20 
Roku, Inc.                                         ROKU                               July 16 
Consumer Discretionary Select Sector SPDR          XLY                                July 13 
SunPower Corp.                                     SPWR                               July 13 
Danaher Corp.                                      DHR                                June 24 
Fiverr International, Ltd.                         FVRR                               June 19 
Square, Inc.                                       SQ                                 June 8 
SPDR S&P Retail ETF                                XRT                                June 3 
iShares MSCI Japan ETF                             EWJ                                May 29 
Synopsis, Inc.                                     SNPS                               May 27 
Agilent Technologies, Inc.                         A                                  May 15 
Five9, Inc.                                        FIVN                               Apr. 24 
Chewy, Inc.                                        CHWY                               Apr. 24 
Tesla, Inc.                                        TSLA                               Apr. 23 
VanEck Vectors Semiconductor ETF                   SMH                                Apr. 17 
Okta, Inc.                                         OKTA                               Apr. 16 
Target Corp.                                       TGT                                Apr. 16 
Invesco QQQ Trust                                  QQQ                                Apr. 14 
Apple, Inc.                                        AAPL                               Mar. 27 
iShares MSCI Emerging Markets ETF                  EEM                                Mar. 19 
Microsoft Corp.                                    MSFT                               Feb. 22 
* Click each symbol for current chart. 
 

(END) Dow Jones Newswires

February 16, 2021 12:36 ET (17:36 GMT)

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