Analog Devices, Inc. ADI shares are trading higher by $4.00 at $73.82 in Tuesday's session. The catalyst for the rally to a new all-time-high is a Q4 beat of $0.16 along with $58 million beat for revenues. The company raised Q1 revenue guidance.
After a higher open, it had a brief dip to $72.94 before continuing its move higher. The ensuing rally took the issue to $74.87 before reversing course. That far exceeds its former all-time high that was made in June 2015 at $68.97.
The retreat off the highs came within $0.07 of the low for the day, only reaching $73.01. At this time, the issue is attempting to re-enter the $74 handle.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
