The latest trading session saw Analog Devices (ADI) ending at $212.95, denoting a +0.27% adjustment from its last day's close. This change outpaced the S&P 500's 0.16% gain on the day. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.

Shares of the semiconductor maker witnessed a loss of 1.96% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.29% and outperforming the S&P 500's loss of 2.2%.

Analysts and investors alike will be keeping a close eye on the performance of Analog Devices in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.54, reflecting a 10.98% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.36 billion, down 6.18% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.09 per share and a revenue of $10.17 billion, representing changes of +11.13% and +7.88%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Analog Devices. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

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, 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, the Zacks Consensus EPS estimate has shifted 0.85% downward. At present, Analog Devices boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Analog Devices is currently trading at a Forward P/E ratio of 29.95. This represents a discount compared to its industry's average Forward P/E of 36.81.

Also, we should mention that ADI has a PEG ratio of 2.43. 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. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 2.62 as trading concluded yesterday.

The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 193, finds itself in the bottom 24% echelons of all 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.

To follow ADI in the coming trading sessions, be sure to utilize Zacks.com.

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