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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 $161.26, moving -1.71% from the previous trading session. This move lagged the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Coming into today, shares of the semiconductor maker had gained 19.99% in the past month. In that same time, the Computer and Technology sector gained 10.6%, while the S&P 500 gained 11.42%.
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. In that report, analysts expect Analog Devices to post earnings of $2.58 per share. This would mark year-over-year growth of 49.13%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 35.18% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.47% lower. Analog Devices currently has a Zacks Rank of #3 (Hold).
Investors should also note Analog Devices's current valuation metrics, including its Forward P/E ratio of 17.44. This represents a premium compared to its industry's average Forward P/E of 15.86.
Meanwhile, ADI's PEG ratio is currently 1.42. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 0.79 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many 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 $161.26, moving -1.71% from the previous trading session. This move lagged the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Coming into today, shares of the semiconductor maker had gained 19.99% in the past month. In that same time, the Computer and Technology sector gained 10.6%, while the S&P 500 gained 11.42%.
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. In that report, analysts expect Analog Devices to post earnings of $2.58 per share. This would mark year-over-year growth of 49.13%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 35.18% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.47% lower. Analog Devices currently has a Zacks Rank of #3 (Hold).
Investors should also note Analog Devices's current valuation metrics, including its Forward P/E ratio of 17.44. This represents a premium compared to its industry's average Forward P/E of 15.86.
Meanwhile, ADI's PEG ratio is currently 1.42. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 0.79 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.