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Analog Devices (ADI) Dips More Than Broader Markets: What You Should Know
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Analog Devices (ADI - Free Report) closed at $175.49 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the semiconductor maker had lost 9.51% in the past month. In that same time, the Computer and Technology sector lost 4.78%, while the S&P 500 lost 2.13%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. This is expected to be August 23, 2023. In that report, analysts expect Analog Devices to post earnings of $2.53 per share. This would mark year-over-year growth of 0.4%. Meanwhile, our latest consensus estimate is calling for revenue of $3.09 billion, down 0.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.55 per share and revenue of $12.6 billion, which would represent changes of +10.24% and +4.85%, respectively, from the prior year.
Any recent changes to analyst estimates for Analog Devices should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% lower. Analog Devices is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Analog Devices currently has a Forward P/E ratio of 16.8. This valuation marks a discount compared to its industry's average Forward P/E of 19.16.
Meanwhile, ADI's PEG ratio is currently 1.74. 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 2.32 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 173, which puts it in the bottom 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Analog Devices (ADI) Dips More Than Broader Markets: What You Should Know
Analog Devices (ADI - Free Report) closed at $175.49 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the semiconductor maker had lost 9.51% in the past month. In that same time, the Computer and Technology sector lost 4.78%, while the S&P 500 lost 2.13%.
Wall Street will be looking for positivity from Analog Devices as it approaches its next earnings report date. This is expected to be August 23, 2023. In that report, analysts expect Analog Devices to post earnings of $2.53 per share. This would mark year-over-year growth of 0.4%. Meanwhile, our latest consensus estimate is calling for revenue of $3.09 billion, down 0.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.55 per share and revenue of $12.6 billion, which would represent changes of +10.24% and +4.85%, respectively, from the prior year.
Any recent changes to analyst estimates for Analog Devices should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% lower. Analog Devices is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Analog Devices currently has a Forward P/E ratio of 16.8. This valuation marks a discount compared to its industry's average Forward P/E of 19.16.
Meanwhile, ADI's PEG ratio is currently 1.74. 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 2.32 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 173, which puts it in the bottom 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.