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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 +2.08% at $414.70. The stock exceeded the S&P 500, which registered a loss of 0.02% for the day. Elsewhere, the Dow saw a downswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.15%.
Prior to today's trading, shares of the semiconductor maker had gained 12.53% outpaced the Computer and Technology sector's gain of 3.58% and the S&P 500's gain of 2.05%.
Market participants will be closely following the financial results of Analog Devices in its upcoming release. It is anticipated that the company will report an EPS of $3.84, marking a 69.91% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.31 billion, up 39.96% from the year-ago period.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $12.96 per share and revenue of $15.11 billion. These results would represent year-over-year changes of +66.37% and +37.12%, respectively.
It is also important to note the recent changes 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 business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Analog Devices is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Analog Devices is currently exchanging hands at a Forward P/E ratio of 31.36. Its industry sports an average Forward P/E of 36.41, so one might conclude that Analog Devices is trading at a discount comparatively.
We can also see that ADI currently has a PEG ratio of 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ADI's industry had an average PEG ratio of 0.69 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 22, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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 +2.08% at $414.70. The stock exceeded the S&P 500, which registered a loss of 0.02% for the day. Elsewhere, the Dow saw a downswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.15%.
Prior to today's trading, shares of the semiconductor maker had gained 12.53% outpaced the Computer and Technology sector's gain of 3.58% and the S&P 500's gain of 2.05%.
Market participants will be closely following the financial results of Analog Devices in its upcoming release. It is anticipated that the company will report an EPS of $3.84, marking a 69.91% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.31 billion, up 39.96% from the year-ago period.
ADI's full-year Zacks Consensus Estimates are calling for earnings of $12.96 per share and revenue of $15.11 billion. These results would represent year-over-year changes of +66.37% and +37.12%, respectively.
It is also important to note the recent changes 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 business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Analog Devices is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Analog Devices is currently exchanging hands at a Forward P/E ratio of 31.36. Its industry sports an average Forward P/E of 36.41, so one might conclude that Analog Devices is trading at a discount comparatively.
We can also see that ADI currently has a PEG ratio of 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ADI's industry had an average PEG ratio of 0.69 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 22, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.