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Analog Devices (ADI) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Analog Devices (ADI - Free Report) closed at $151.72, marking a -0.71% move from the previous day. This change lagged the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.02%.
Coming into today, shares of the semiconductor maker had lost 10.21% in the past month. In that same time, the Computer and Technology sector lost 13.55%, while the S&P 500 lost 8.08%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. This is expected to be May 18, 2022. In that report, analysts expect Analog Devices to post earnings of $2.12 per share. This would mark year-over-year growth of 37.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.86 billion, up 72.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.43 per share and revenue of $11.38 billion. These totals would mark changes of +30.5% and +55.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Analog Devices. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Analog Devices is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Analog Devices has a Forward P/E ratio of 18.13 right now. Its industry sports an average Forward P/E of 17.55, so we one might conclude that Analog Devices is trading at a premium comparatively.
Also, we should mention that ADI has a PEG ratio of 1.48. 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 industry currently had an average PEG ratio of 0.66 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow ADI in the coming trading sessions, be sure to utilize Zacks.com.
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Analog Devices (ADI) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Analog Devices (ADI - Free Report) closed at $151.72, marking a -0.71% move from the previous day. This change lagged the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.02%.
Coming into today, shares of the semiconductor maker had lost 10.21% in the past month. In that same time, the Computer and Technology sector lost 13.55%, while the S&P 500 lost 8.08%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. This is expected to be May 18, 2022. In that report, analysts expect Analog Devices to post earnings of $2.12 per share. This would mark year-over-year growth of 37.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.86 billion, up 72.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.43 per share and revenue of $11.38 billion. These totals would mark changes of +30.5% and +55.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Analog Devices. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Analog Devices is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Analog Devices has a Forward P/E ratio of 18.13 right now. Its industry sports an average Forward P/E of 17.55, so we one might conclude that Analog Devices is trading at a premium comparatively.
Also, we should mention that ADI has a PEG ratio of 1.48. 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 industry currently had an average PEG ratio of 0.66 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow ADI in the coming trading sessions, be sure to utilize Zacks.com.