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Analog Devices (ADI) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Analog Devices (ADI - Free Report) closed at $191.96, marking a +1.22% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the semiconductor maker had gained 1.9% in the past month. In that same time, the Computer and Technology sector gained 1.16%, while the S&P 500 gained 3.43%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. On that day, Analog Devices is projected to report earnings of $2.53 per share, which would represent year-over-year growth of 0.4%. Our most recent consensus estimate is calling for quarterly revenue of $3.09 billion, down 0.53% from the year-ago period.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $10.57 per share and revenue of $12.6 billion. These results would represent year-over-year changes of +10.45% and +4.85%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Analog Devices is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Analog Devices is currently trading at a Forward P/E ratio of 17.95. Its industry sports an average Forward P/E of 19.94, so we one might conclude that Analog Devices is trading at a discount comparatively.
Investors should also note that ADI has a PEG ratio of 1.86 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.86 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Analog Devices (ADI) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Analog Devices (ADI - Free Report) closed at $191.96, marking a +1.22% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the semiconductor maker had gained 1.9% in the past month. In that same time, the Computer and Technology sector gained 1.16%, while the S&P 500 gained 3.43%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. On that day, Analog Devices is projected to report earnings of $2.53 per share, which would represent year-over-year growth of 0.4%. Our most recent consensus estimate is calling for quarterly revenue of $3.09 billion, down 0.53% from the year-ago period.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $10.57 per share and revenue of $12.6 billion. These results would represent year-over-year changes of +10.45% and +4.85%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Analog Devices is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Analog Devices is currently trading at a Forward P/E ratio of 17.95. Its industry sports an average Forward P/E of 19.94, so we one might conclude that Analog Devices is trading at a discount comparatively.
Investors should also note that ADI has a PEG ratio of 1.86 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.86 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.