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Analog Devices (ADI) Dips More Than Broader Markets: What You Should Know
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Analog Devices (ADI - Free Report) closed the most recent trading day at $142.62, moving -1.56% from the previous trading session. This change lagged the S&P 500's 0.75% loss on the day. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the semiconductor maker had gained 3.98% in the past month. In that same time, the Computer and Technology sector gained 0.71%, while the S&P 500 gained 4.98%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. This is expected to be November 22, 2022. The company is expected to report EPS of $2.58, up 49.13% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 35.18% from the year-ago period.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $9.43 per share and revenue of $11.93 billion. These results would represent year-over-year changes of +45.98% and +63%, respectively.
Investors might also notice recent changes to analyst estimates for Analog Devices. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Analog Devices is currently a Zacks Rank #3 (Hold).
Investors should also note Analog Devices's current valuation metrics, including its Forward P/E ratio of 15.37. Its industry sports an average Forward P/E of 14.29, so we one might conclude that Analog Devices is trading at a premium comparatively.
We can also see that ADI currently has a PEG ratio of 1.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 0.76 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Analog Devices (ADI) Dips More Than Broader Markets: What You Should Know
Analog Devices (ADI - Free Report) closed the most recent trading day at $142.62, moving -1.56% from the previous trading session. This change lagged the S&P 500's 0.75% loss on the day. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the semiconductor maker had gained 3.98% in the past month. In that same time, the Computer and Technology sector gained 0.71%, while the S&P 500 gained 4.98%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. This is expected to be November 22, 2022. The company is expected to report EPS of $2.58, up 49.13% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 35.18% from the year-ago period.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $9.43 per share and revenue of $11.93 billion. These results would represent year-over-year changes of +45.98% and +63%, respectively.
Investors might also notice recent changes to analyst estimates for Analog Devices. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Analog Devices is currently a Zacks Rank #3 (Hold).
Investors should also note Analog Devices's current valuation metrics, including its Forward P/E ratio of 15.37. Its industry sports an average Forward P/E of 14.29, so we one might conclude that Analog Devices is trading at a premium comparatively.
We can also see that ADI currently has a PEG ratio of 1.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 0.76 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.