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Analog Devices (ADI) Beats Stock Market Upswing: What Investors Need to Know
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Analog Devices (ADI - Free Report) ended the recent trading session at $353.80, demonstrating a +1.68% change from the preceding day's closing price. This change outpaced the S&P 500's 0.26% gain on the day. Elsewhere, the Dow saw an upswing of 0.24%, while the tech-heavy Nasdaq appreciated by 0.36%.
The stock of semiconductor maker has risen by 12.75% in the past month, leading the Computer and Technology sector's gain of 9.34% and the S&P 500's gain of 5.98%.
Market participants will be closely following the financial results of Analog Devices in its upcoming release. The company's earnings per share (EPS) are projected to be $2.83, reflecting a 52.97% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.51 billion, indicating a 32.99% upward movement from the same quarter last year.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $11.24 per share and revenue of $13.79 billion. These results would represent year-over-year changes of +44.29% and +25.14%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.18% upward. Right now, Analog Devices possesses a Zacks Rank of #2 (Buy).
With respect to valuation, Analog Devices is currently being traded at a Forward P/E ratio of 30.97. This denotes no noticeable deviation relative to the industry average Forward P/E of 30.97.
Investors should also note that ADI has a PEG ratio of 1.41 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 0.86.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 20, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Analog Devices (ADI) Beats Stock Market Upswing: What Investors Need to Know
Analog Devices (ADI - Free Report) ended the recent trading session at $353.80, demonstrating a +1.68% change from the preceding day's closing price. This change outpaced the S&P 500's 0.26% gain on the day. Elsewhere, the Dow saw an upswing of 0.24%, while the tech-heavy Nasdaq appreciated by 0.36%.
The stock of semiconductor maker has risen by 12.75% in the past month, leading the Computer and Technology sector's gain of 9.34% and the S&P 500's gain of 5.98%.
Market participants will be closely following the financial results of Analog Devices in its upcoming release. The company's earnings per share (EPS) are projected to be $2.83, reflecting a 52.97% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.51 billion, indicating a 32.99% upward movement from the same quarter last year.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $11.24 per share and revenue of $13.79 billion. These results would represent year-over-year changes of +44.29% and +25.14%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.18% upward. Right now, Analog Devices possesses a Zacks Rank of #2 (Buy).
With respect to valuation, Analog Devices is currently being traded at a Forward P/E ratio of 30.97. This denotes no noticeable deviation relative to the industry average Forward P/E of 30.97.
Investors should also note that ADI has a PEG ratio of 1.41 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 0.86.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 20, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.