The most recent trading session ended with Analog Devices (ADI) standing at $211.35, reflecting a -0.52% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.16%.

Heading into today, shares of the semiconductor maker had lost 2.68% over the past month, lagging the Computer and Technology sector's gain of 1.86% and the S&P 500's loss of 2.36% in that time.

The upcoming earnings release of Analog Devices will be of great interest to investors. In that report, analysts expect Analog Devices to post earnings of $1.54 per share. This would mark a year-over-year decline of 10.98%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.36 billion, indicating a 6.18% decrease compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.11 per share and a revenue of $10.17 billion, signifying shifts of +11.44% and +7.88%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Analog Devices. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.61% downward. Right now, Analog Devices possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Analog Devices has a Forward P/E ratio of 29.89 right now. This signifies a discount in comparison to the average Forward P/E of 36.05 for its industry.

Meanwhile, ADI's PEG ratio is currently 2.43. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 2.56 based on yesterday's closing prices.

The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 197, placing it within the bottom 22% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Analog Devices, Inc. (ADI) : Free Stock Analysis Report

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