Here's Why Analog Devices (ADI) is a Strong Growth Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Analog Devices (ADI)
Analog Devices, Inc. is headquartered in Norwood, Massachusetts. The company is an original equipment manufacturer of semiconductor devices, specifically, analog, mixed signal and digital signal processing (DSP) integrated circuits.
ADI sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 1.8% and 1.1% year-over-year, respectively.
Eight analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.28 to $9.74 per share. ADI also boasts an average earnings surprise of 7.8%.
Analog Devices is also cash rich. The company has generated cash flow growth of 26.7%, and is expected to report cash flow expansion of 99% in 2023.
ADI should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Analog Devices, Inc. (ADI) : Free Stock Analysis Report