Analog Devices Inc. (NASDAQ:ADI) shares, rose in value on Thursday, August 04, with the stock price down by -0.65% to the previous day’s close as strong demand from buyers drove the stock to $175.21.
Actively observing the price movement in the recent trading, the stock is buoying the session at $176.36, falling within a range of $171.00 and $176.98. The value of beta (5-year monthly) is 1.09 whereas the PE ratio is 50.03 over 12-month period. Referring to stock’s 52-week performance, its high was $191.95, and the low was $138.50. On the whole, ADI has fluctuated by 23.27% over the past month.
With the market capitalization of Analog Devices Inc. currently standing at about $89.74 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 15, 2022 – Feb 21, 2022. The company’s Forward Dividend Ratio is 3.04, with its dividend yield at 1.72%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.43, which is expected to increase to $2.69 for fiscal year $9.26 and then to about $9.79 by fiscal year 2023. Data indicates that the EPS growth is expected to be 43.30% in 2023, while the next year’s EPS growth is forecast to be 5.70%.
Analysts have estimated the company’s revenue for the quarter at $3.05 billion, with a low estimate of $3.05 billion and a high estimate of $3.1 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $11.81 billion, representing an increase of 61.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ADI’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
27 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 6 analyst(s), 16 recommend it as a Buy and 5 called the ADI stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 3.02, with the price of ADI currently trading nearly 8.96% and 11.40% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.53, while the 7-day volatility ratio is showing 2.42% which for the 30-day chart, stands at 2.67%. Furthermore, Analog Devices Inc. (ADI)’s beta value is 1.13, and its average true range (ATR) is 4.43. The company’s stock has been forecasted to trade at an average price of $195.18 over the course of the next 52 weeks, with a low of $165.00 and a high of $220.00. Based on these price targets, the low is 5.83% off current price, whereas the price has to move -25.56% to reach the yearly target high. Additionally, analysts’ median price of $192.00 is likely to be welcomed by investors because it represents a decrease of -9.58% from the current levels.
A comparison of Analog Devices Inc. (ADI) with its peers suggests the former has fared considerably weaker in the market. ADI showed an intraday change of -0.65% in today’s session so far, and over the past year, it grew by 4.55%%. In comparison, Broadcom Inc. (AVGO) has moved lower at -0.11% today and is up 12.32% over the past 12 months. On the other hand, the price of Texas Instruments Incorporated (TXN) has fallen -0.09% today. The stock, however, is off -3.10% from where it was a year ago. Additionally, there is a loss of -0.36% for KLA Corporation (KLAC) in recent trading while the stock has seen an overall depriciation of 14.14%% over the past year. The PE ratio stands at 50.03 for Analog Devices Inc., compared to 27.09 for Broadcom Inc., and 20.06 for Texas Instruments Incorporated. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Slipped by -0.21%.
Data on historical trading for Analog Devices Inc. (NASDAQ:ADI) indicates that the trading volumes over the past 10 days have averaged 3.27 million and over the past 3 months, they’ve averaged 3.43 million. According to company’s latest data on outstanding shares, there are 522.37 million shares outstanding.
Nearly 0.10% of Analog Devices Inc.’s shares belong to company insiders and institutional investors own 88.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.86 million shares as on Jul 14, 2022, resulting in a short ratio of 1.75. According to the data, the short interest in Analog Devices Inc. (ADI) stood at 1.13% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 7.95 million. The stock has risen by 0.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ADI stock heading into the next quarter.