Analog Devices (ADI) ended the recent trading session at $176.27, demonstrating a +0.19% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.13% for the day. At the same time, the Dow lost 1.33%, and the tech-heavy Nasdaq lost 0.13%.

Shares of the semiconductor maker have depreciated by 16.21% over the course of the past month, underperforming the Computer and Technology sector's loss of 9.27% and the S&P 500's loss of 6.3%.

The investment community will be paying close attention to the earnings performance of Analog Devices in its upcoming release. In that report, analysts expect Analog Devices to post earnings of $1.69 per share. This would mark year-over-year growth of 20.71%. Meanwhile, our latest consensus estimate is calling for revenue of $2.5 billion, up 15.9% from the prior-year quarter.

ADI's full-year Zacks Consensus Estimates are calling for earnings of $7.11 per share and revenue of $10.27 billion. These results would represent year-over-year changes of +11.44% and +8.97%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for Analog Devices. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Analog Devices possesses a Zacks Rank of #3 (Hold).

With respect to valuation, Analog Devices is currently being traded at a Forward P/E ratio of 24.74. This represents a discount compared to its industry's average Forward P/E of 24.76.

One should further note that ADI currently holds a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ADI's industry had an average PEG ratio of 1.69 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 157, which puts it in the bottom 37% 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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

This article originally published on Zacks Investment Research (zacks.com).

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