Analog Devices Inc. (NASDAQ:ADI) shares, rose in value, with the stock price up by 1.46% to the previous day’s close as strong demand from buyers drove the stock to $194.76.
Actively observing the price movement in the last trading, the stock closed the session at $191.95. The value of beta (5-year monthly) was 1.16 whereas the PE ratio was 34.86 over 12-month period. Referring to stock’s 52-week performance, its high was $202.77, and the low was $154.99. On the whole, ADI has fluctuated by 1.60% over the past month.
With the market capitalization of Analog Devices Inc. currently standing at about $96.58 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 22, 2024 – May 27, 2024. The company’s Forward Dividend Ratio is 3.50, with its dividend yield at 1.80%. 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 $1.26, which is expected to increase to $1.5 for fiscal year $5.95 and then to about $7.5 by fiscal year 2025. Data indicates that the EPS growth is expected to be -41.00% in 2025, while the next year’s EPS growth is forecast to be 26.10%.
Analysts have estimated the company’s revenue for the quarter at $2.11 billion, with a low estimate of $2.1 billion and a high estimate of $2.13 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $9.16 billion, representing a decrease of -25.50% 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 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ADI currently trading nearly 0.03% and 0.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.67, while the 7-day volatility ratio is showing 2.31% which for the 30-day chart, stands at 2.25%. Furthermore, Analog Devices Inc. (ADI)’s beta value is 1.16, and its average true range (ATR) is 4.48.
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 1.46% in last session, and over the past year, it shrunk by -0.18%%.
Data on historical trading for Analog Devices Inc. (NASDAQ:ADI) indicates that the trading volumes over the past 10 days have averaged 2.46 million and over the past 3 months, they’ve averaged 3.37 million. According to company’s latest data on outstanding shares, there are 496.26 million shares outstanding.
Nearly 0.38% of Analog Devices Inc.’s shares belong to company insiders and institutional investors own 88.84% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.38 million shares as on Mar 15, 2024, resulting in a short ratio of 1.87. According to the data, the short interest in Analog Devices Inc. (ADI) stood at 1.49% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 6.63 million. The stock has fallen by -1.91% 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.
