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Analog Devices (ADI) Stock Slides as Market Rises: Facts to Know Before You Trade
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Analog Devices (ADI - Free Report) closed the most recent trading day at $215.32, moving -1.23% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.
Shares of the semiconductor maker witnessed a loss of 10.41% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 7.5% and the S&P 500's loss of 3.2%.
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. It is anticipated that the company will report an EPS of $1.50, marking a 39.76% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.27 billion, down 26.09% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.24 per share and revenue of $9.3 billion, which would represent changes of -38.16% and -24.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Analog Devices. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.07% fall in the Zacks Consensus EPS estimate. Analog Devices is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Analog Devices is presently being traded at a Forward P/E ratio of 34.96. Its industry sports an average Forward P/E of 38.52, so one might conclude that Analog Devices is trading at a discount comparatively.
It's also important to note that ADI currently trades at a PEG ratio of 3.68. 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. As the market closed yesterday, the Semiconductor - Analog and Mixed industry was having an average PEG ratio of 3.2.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Stock Slides as Market Rises: Facts to Know Before You Trade
Analog Devices (ADI - Free Report) closed the most recent trading day at $215.32, moving -1.23% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.
Shares of the semiconductor maker witnessed a loss of 10.41% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 7.5% and the S&P 500's loss of 3.2%.
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. It is anticipated that the company will report an EPS of $1.50, marking a 39.76% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.27 billion, down 26.09% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.24 per share and revenue of $9.3 billion, which would represent changes of -38.16% and -24.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Analog Devices. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.07% fall in the Zacks Consensus EPS estimate. Analog Devices is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Analog Devices is presently being traded at a Forward P/E ratio of 34.96. Its industry sports an average Forward P/E of 38.52, so one might conclude that Analog Devices is trading at a discount comparatively.
It's also important to note that ADI currently trades at a PEG ratio of 3.68. 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. As the market closed yesterday, the Semiconductor - Analog and Mixed industry was having an average PEG ratio of 3.2.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.