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Analog Devices (ADI) Declines More Than Market: Some Information for Investors
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Analog Devices (ADI - Free Report) ended the recent trading session at $220.92, demonstrating a -1.65% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.93%.
The semiconductor maker's shares have seen a decrease of 1.41% over the last month, surpassing the Computer and Technology sector's loss of 2.41% and falling behind the S&P 500's loss of 0.26%.
The investment community will be paying close attention to the earnings performance of Analog Devices in its upcoming release. The company is slated to reveal its earnings on August 21, 2024. On that day, Analog Devices is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 39.76%. Alongside, our most recent consensus estimate is anticipating revenue of $2.27 billion, indicating a 26.09% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.24 per share and a revenue of $9.31 billion, representing changes of -38.16% and -24.34%, respectively, from the prior 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Analog Devices is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Analog Devices is currently exchanging hands at a Forward P/E ratio of 35.99. This expresses no noticeable deviation compared to the average Forward P/E of 35.99 of its industry.
We can additionally observe that ADI currently boasts a PEG ratio of 3.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 3.05 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Analog Devices (ADI) Declines More Than Market: Some Information for Investors
Analog Devices (ADI - Free Report) ended the recent trading session at $220.92, demonstrating a -1.65% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.93%.
The semiconductor maker's shares have seen a decrease of 1.41% over the last month, surpassing the Computer and Technology sector's loss of 2.41% and falling behind the S&P 500's loss of 0.26%.
The investment community will be paying close attention to the earnings performance of Analog Devices in its upcoming release. The company is slated to reveal its earnings on August 21, 2024. On that day, Analog Devices is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 39.76%. Alongside, our most recent consensus estimate is anticipating revenue of $2.27 billion, indicating a 26.09% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.24 per share and a revenue of $9.31 billion, representing changes of -38.16% and -24.34%, respectively, from the prior 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Analog Devices is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Analog Devices is currently exchanging hands at a Forward P/E ratio of 35.99. This expresses no noticeable deviation compared to the average Forward P/E of 35.99 of its industry.
We can additionally observe that ADI currently boasts a PEG ratio of 3.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 3.05 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.