Analog Devices (ADI) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Company Performance - Analog Devices (ADI) closed at $240.36, reflecting a -2.44% change from the previous day, underperforming compared to the S&P 500's loss of 0.53% [1] - Prior to the latest trading session, ADI shares had decreased by 0.17%, lagging behind the Computer and Technology sector's gain of 1.25% and the S&P 500's gain of 1.13% [1] Upcoming Financial Results - The company is expected to report an EPS of $2.22, representing a 32.93% increase from the same quarter last year [2] - Revenue is anticipated to reach $3.01 billion, indicating a 23.24% increase compared to the prior-year quarter [2] Fiscal Year Estimates - For the entire fiscal year, earnings are projected at $7.75 per share, reflecting a +21.47% change from the previous year [3] - Revenue for the fiscal year is estimated at $10.95 billion, indicating a +16.2% increase from the prior year [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Analog Devices should be monitored, as they often reflect short-term business trends [4] - Positive estimate revisions are interpreted as a favorable sign for the business outlook [4] Zacks Rank and Valuation - Analog Devices currently holds a Zacks Rank of 2 (Buy), with a notable track record of outperforming the market [6] - The Forward P/E ratio for Analog Devices is 31.78, which is lower than the industry average of 40.88, indicating a discount [7] - The PEG ratio for ADI is currently 2.08, compared to the industry average of 2.14 [8] Industry Context - The Semiconductor - Analog and Mixed industry ranks in the top 15% of all industries, with a current Zacks Industry Rank of 36 [9] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [9]