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Analog Devices (ADI) Stock Declines While Market Improves: Some Information for Investors
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The latest trading session saw Analog Devices (ADI - Free Report) ending at $230.14, denoting a -0.01% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.26%.
The semiconductor maker's shares have seen a decrease of 0.81% over the last month, not keeping up with the Computer and Technology sector's gain of 2.21% and the S&P 500's gain of 2%.
The investment community will be closely monitoring the performance of Analog Devices in its forthcoming earnings report. The company is scheduled to release its earnings on November 26, 2024. The company is predicted to post an EPS of $1.63, indicating a 18.91% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.4 billion, showing a 11.58% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.34 per share and revenue of $9.39 billion. These totals would mark changes of -37.17% and -23.69%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Analog Devices is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Analog Devices has a Forward P/E ratio of 36.29 right now. This expresses a discount compared to the average Forward P/E of 37.56 of its industry.
Meanwhile, ADI's PEG ratio is currently 3.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ADI's industry had an average PEG ratio of 3.51 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 154, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered 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) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Analog Devices (ADI - Free Report) ending at $230.14, denoting a -0.01% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.26%.
The semiconductor maker's shares have seen a decrease of 0.81% over the last month, not keeping up with the Computer and Technology sector's gain of 2.21% and the S&P 500's gain of 2%.
The investment community will be closely monitoring the performance of Analog Devices in its forthcoming earnings report. The company is scheduled to release its earnings on November 26, 2024. The company is predicted to post an EPS of $1.63, indicating a 18.91% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.4 billion, showing a 11.58% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.34 per share and revenue of $9.39 billion. These totals would mark changes of -37.17% and -23.69%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Analog Devices. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Analog Devices is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Analog Devices has a Forward P/E ratio of 36.29 right now. This expresses a discount compared to the average Forward P/E of 37.56 of its industry.
Meanwhile, ADI's PEG ratio is currently 3.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ADI's industry had an average PEG ratio of 3.51 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 154, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered 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.