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Analog Devices (ADI) Rises Higher Than Market: Key Facts
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Analog Devices (ADI - Free Report) ended the recent trading session at $157.33, demonstrating a +0.93% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.65% for the day. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.48%.
Shares of the semiconductor maker have depreciated by 11.14% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.93% and the S&P 500's loss of 2.79%.
The investment community will be closely monitoring the performance of Analog Devices in its forthcoming earnings report. The company is scheduled to release its earnings on November 21, 2023. It is anticipated that the company will report an EPS of $2.02, marking a 26.01% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.71 billion, indicating a 16.46% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.12 per share and a revenue of $12.3 billion, representing changes of +5.75% and +2.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 0.01% lower. Currently, Analog Devices is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Analog Devices is currently exchanging hands at a Forward P/E ratio of 15.4. This indicates a premium in contrast to its industry's Forward P/E of 14.45.
It's also important to note that ADI currently trades at a PEG ratio of 1.59. 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 average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 1.63 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 164, this industry ranks in the bottom 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Analog Devices (ADI) Rises Higher Than Market: Key Facts
Analog Devices (ADI - Free Report) ended the recent trading session at $157.33, demonstrating a +0.93% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.65% for the day. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.48%.
Shares of the semiconductor maker have depreciated by 11.14% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.93% and the S&P 500's loss of 2.79%.
The investment community will be closely monitoring the performance of Analog Devices in its forthcoming earnings report. The company is scheduled to release its earnings on November 21, 2023. It is anticipated that the company will report an EPS of $2.02, marking a 26.01% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.71 billion, indicating a 16.46% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.12 per share and a revenue of $12.3 billion, representing changes of +5.75% and +2.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 0.01% lower. Currently, Analog Devices is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Analog Devices is currently exchanging hands at a Forward P/E ratio of 15.4. This indicates a premium in contrast to its industry's Forward P/E of 14.45.
It's also important to note that ADI currently trades at a PEG ratio of 1.59. 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 average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 1.63 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 164, this industry ranks in the bottom 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.