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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 at $184.81 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 1.17%.
Coming into today, shares of the semiconductor maker had lost 2.27% in the past month. In that same time, the Computer and Technology sector gained 1.4%, while the S&P 500 gained 2.35%.
Analog Devices will be looking to display strength as it nears its next earnings release, which is expected to be August 23, 2023. 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 $10.55 per share and revenue of $12.6 billion. These results would represent year-over-year changes of +10.24% and +4.85%, respectively.
Any recent changes to analyst estimates for Analog Devices should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 currently a Zacks Rank #3 (Hold).
Digging into valuation, Analog Devices currently has a Forward P/E ratio of 17.69. Its industry sports an average Forward P/E of 19.54, so we one might conclude that Analog Devices is trading at a discount comparatively.
We can also see that ADI currently has a PEG ratio of 1.83. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 2.49 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.
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 at $184.81 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 1.17%.
Coming into today, shares of the semiconductor maker had lost 2.27% in the past month. In that same time, the Computer and Technology sector gained 1.4%, while the S&P 500 gained 2.35%.
Analog Devices will be looking to display strength as it nears its next earnings release, which is expected to be August 23, 2023. 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 $10.55 per share and revenue of $12.6 billion. These results would represent year-over-year changes of +10.24% and +4.85%, respectively.
Any recent changes to analyst estimates for Analog Devices should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 currently a Zacks Rank #3 (Hold).
Digging into valuation, Analog Devices currently has a Forward P/E ratio of 17.69. Its industry sports an average Forward P/E of 19.54, so we one might conclude that Analog Devices is trading at a discount comparatively.
We can also see that ADI currently has a PEG ratio of 1.83. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 2.49 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.