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Analog Devices (ADI) Ascends While Market Falls: Some Facts to Note
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In the latest close session, Analog Devices (ADI - Free Report) was up +1.15% at $417.93. This change outpaced the S&P 500's 0.01% loss on the day. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the semiconductor maker had lost 0.89% over the past month, outpacing the Computer and Technology sector's loss of 2.57% and the S&P 500's loss of 1.4%.
Investors will be eagerly watching for the performance of Analog Devices in its upcoming earnings disclosure. In that report, analysts expect Analog Devices to post earnings of $3.33 per share. This would mark year-over-year growth of 62.44%. Alongside, our most recent consensus estimate is anticipating revenue of $3.93 billion, indicating a 36.28% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.41 per share and revenue of $14.58 billion, which would represent changes of +59.31% and +32.29%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Analog Devices. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.8% higher. Analog Devices presently features a Zacks Rank of #2 (Buy).
With respect to valuation, Analog Devices is currently being traded at a Forward P/E ratio of 33.29. This denotes a discount relative to the industry average Forward P/E of 59.62.
One should further note that ADI currently holds a PEG ratio of 1.16. 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 was holding an average PEG ratio of 1.1 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Analog Devices (ADI) Ascends While Market Falls: Some Facts to Note
In the latest close session, Analog Devices (ADI - Free Report) was up +1.15% at $417.93. This change outpaced the S&P 500's 0.01% loss on the day. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the semiconductor maker had lost 0.89% over the past month, outpacing the Computer and Technology sector's loss of 2.57% and the S&P 500's loss of 1.4%.
Investors will be eagerly watching for the performance of Analog Devices in its upcoming earnings disclosure. In that report, analysts expect Analog Devices to post earnings of $3.33 per share. This would mark year-over-year growth of 62.44%. Alongside, our most recent consensus estimate is anticipating revenue of $3.93 billion, indicating a 36.28% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.41 per share and revenue of $14.58 billion, which would represent changes of +59.31% and +32.29%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Analog Devices. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.8% higher. Analog Devices presently features a Zacks Rank of #2 (Buy).
With respect to valuation, Analog Devices is currently being traded at a Forward P/E ratio of 33.29. This denotes a discount relative to the industry average Forward P/E of 59.62.
One should further note that ADI currently holds a PEG ratio of 1.16. 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 was holding an average PEG ratio of 1.1 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.