Yahoo Finance Analog Devices (ADI) Stock Moves -0.58%: What You Should Know
Analog Devices (ADI) closed at $181.33 in the latest trading session, marking a -0.58% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the semiconductor maker had lost 4.19% over the past month. This has lagged the Computer and Technology sector's loss of 1.64% and the S&P 500's loss of 0.68% in that time.
Investors will be hoping for strength from Analog Devices as it approaches its next earnings release, which is expected to be May 24, 2023. The company is expected to report EPS of $2.74, up 14.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.2 billion, up 7.6% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.60 per share and revenue of $12.65 billion. These totals would mark changes of +10.76% and +5.31%, respectively, from last 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. 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 17.2 right now. Its industry sports an average Forward P/E of 17.2, so we one might conclude that Analog Devices is trading at a no noticeable deviation comparatively.
Meanwhile, ADI's PEG ratio is currently 1.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 1.4 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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, Inc. (ADI) : Free Stock Analysis Report
