Analog Devices $ADI Stock Drops On Dark Pool Selling, Plunging Money Flow

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Analog Devices $ADI stock fell -2.3% on November 3, 2022, as the money flow shows investors dumping the stock. We also had what looks like a large institutional investor reducing a long position on October 31, 2022.

Dark Pool Trading In Analog Devices $ADI Stock

Dark pool trading occurred in $ADI stock on October 31, 2022. The $23 million dark pool trade looks like a sell order because of how $ADI stock fell after the trade hit the tape.

Analog Devices stock chart on November 3, 2022, with dark pool trade shown in orange bar with a table to the right with the text TIME SYMBOL MESSAGE PRICE 10/31/22 ADI 165,860 DARK BLOCK 523M 4.38% AvgVol $142.62

Make sure to review this lesson on dark pool trading so that you understand the chart above.

Analog Devices downgraded at Barclays

On October 24, 2022, Blayne Curtis from Barclays downgraded Analog Devices to Equal Weight and set a price target of $140, down from $180. While it’s too early to pull the plug on the chip analog sector, Curtis is looking for a bottom to get more positive on the sector. He says that demand for autos and industrial goods is slowing, citing Analog Device’s report of slowing orders and modest cancellations in its last earnings call.

Analog Devices price target lowered at Deutsche Bank

On October 18, 2022, Ross Seymore of Deutsche Bank lowered the price target on Analog Devices to $155 from $170, but kept a Hold rating on the shares. According to a research note by Seymore, investors are very bearish on the Q3 results for the Semiconductor sector because of fears of fundamental deterioration. The analyst expects Q3 earnings season to yield more signs of weakness, and he sees downside risk for the second quarter in a row. Seymore is becoming more positive about the semiconductor stocks. He says that the drop in the sector and the fact that they have performed worse than the S&P 500 have clearly made people think that there will be big cuts to the rev/EPS estimates, and this has left the group’s valuation 20% below its 5-year average.

Analog Devices $ADI Stock Technical Analysis

Analog Devices $ADI stock is in a technical strong downtrend. Long-term indicators suggest a continuation of the downtrend.

Analog Devices stock chart on November 3, 2022, in a downtrend channel chart pattern with a neutral MACD and negative money flow.
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