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Accelerates ADI's delivery of "Physical Intelligence", enabling systems to sense, reason, and act locally in real time within the constraints of the physical world Adds Alif's AI-native fusion processors, giving customers a scalable platform to quickly build full system solutions by combining next-generation digital with ADI's leading edge analog portfolio Expands ADI's total addressable market across industrial, data center infrastructure, defense, energy, robotics, digital health, and wearable applications by enabling complete, differentiated solutions , /PRNewswire/ -- Analog Devices, Inc. (NASDAQ: ADI) and Alif Semiconductor today announced that they have entered into a definitive agreement under which ADI will acquire Alif in an all-cash transaction for $1.35 billion.

Artificial intelligence is entering a new phase as models move beyond interpreting words and images to understanding context and interacting with the physical world. This transition requires systems that can reason from signals such as motion, sound, vibration, radio waves, and thermodynamics, and operate locally within demanding power, latency, security, and reliability constraints. At ADI, this is called Physical Intelligence.

Alif is redefining edge intelligence with a sophisticated platform of high-efficiency AI-native microcontrollers and fusion processors. Its heterogeneous architecture enables real-time sensor fusion, low-latency inference, and on-device AI, bringing advanced intelligence to demanding physical systems.

Combining ADI's leadership in sensing, signal processing, power, connectivity, and application software with Alif's leading-edge digital platform will accelerate the delivery of more complete Physical Intelligence solutions. Together, ADI and Alif can address a broader range of customers' most complex system-level challenges.

Commentary

"AI is moving out of the data center and into the physical world, where latency, power, and trust cannot be compromised. That is the domain ADI has mastered for decades, at the delicate electro-physical interface where real-world signals become actionable intelligence. By combining Alif's digital processing capabilities with our leadership in multi-modal sensing, signal processing, power, connectivity, and software, we can empower customers to create entirely new classes of secure, intelligent systems that sense, reason, and act locally in real time. This is the next frontier of AI: embodied and deterministic. This is Physical Intelligence in action," said Vincent Roche, CEO and Chair of ADI. "Alif was founded to reimagine what a microcontroller can be in the AI era. We engineered a heterogeneous architecture from the start, integrating dedicated low-power neural processing with connectivity, security, and intelligent power management that delivers compute resources precisely where they're needed. Combined with ADI's deep physical-domain expertise and broad analog system capabilities, we can expand our reach to deliver the solutions that can power the future of Physical Intelligence," said Reza Kazerounian, Co-Founder and President of Alif. Alif's silicon is already shipping in production, with design wins across leading consumer and industrial customers.

Transaction Details 
Under the terms of the agreement, which has been approved by the Boards of Directors of both companies, ADI will pay Alif's stockholders $1.35 billion of upfront consideration in cash, subject to the terms of the definitive agreement. In addition, ADI may pay an incremental contingent consideration of up to $200 million. The transaction is expected to close before the end of calendar year 2026, subject to customary closing conditions and the expiration of the applicable waiting period (and any extension thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that combat climate change, reliably connect humans and the world, and help drive advancements in automation and robotics, mobility, healthcare, energy and data centers. With revenue of more than $11 billion in FY25, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and X. 

About Alif Semiconductor
Alif Semiconductor, headquartered in Pleasanton, California, is a provider of the next generation of secure, connected, highly power-efficient EdgeAI microcontrollers and fusion processors. Alif's architectures scale from single-core to multi-core systems featuring integrated neural processing units (NPUs) and advanced graphics acceleration. Learn more at alifsemi.com.

Advisors
PJT Partners is acting as financial advisor to ADI, and Wachtell, Lipton, Rosen & Katz as legal counsel. Qatalyst Partners is acting as financial advisor, and DLA Piper as legal counsel to Alif.

All trademarks and registered trademarks are the property of their respective owners.

Forward-Looking Statements
This press release contains forward-looking statements, which address a variety of subjects including, for example, the expected timetable for closing of the transaction between Analog Devices, Inc. and Alif Semiconductor; the expected benefits of the transaction; ADI's expected product offerings, product development, and technical advances resulting from the transaction; markets, market position, addressable markets, and growth opportunities; and other future events. Statements that are not historical facts, including statements about our beliefs, plans, and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the risk that regulatory approvals may not be obtained or other closing conditions may not be satisfied in a timely manner or at all; the possibility that the transaction will not close or that closing may be delayed; unforeseen or unknown liabilities; costs or expenses related to the transaction; the inability to retain key personnel; difficulties in integrating the acquired business; the risk that expected benefits of the transaction may not be realized or may take longer to realize than expected; and uncertainty as to the long-term value of our common stock. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

CONTACT:
Jeff Ambrosi
Senior Director, Investor Relations
Analog Devices
[email protected]
(781) 461-3282

Ferda Millan
Global PR and External Communications
Analog Devices
[email protected]
(408) 373-1854

SOURCE Analog Devices, Inc.

Analog Devices struck a deal to acquire Alif Semiconductor for $1.35 billion in cash, expanding its total addressable market across quickly growing segments such as data-center infrastructure and defense.

California State Teachers Retirement System increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 39,170.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,317,813 shares of the semiconductor company’s stock after purchasing an additional 295,563,249 shares during the quarter. California State Teachers Retirement System owned approximately 61.15% of Analog Devices worth $117,688,546,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Analog Devices by 36.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 464 shares in the last quarter. Ieq Capital LLC increased its position in shares of Analog Devices by 38.0% in the second quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company’s stock valued at $10,610,000 after acquiring an additional 12,276 shares during the last quarter. HUB Investment Partners LLC acquired a new stake in shares of Analog Devices in the second quarter valued at about $644,000. Finally, Peapack Gladstone Financial Corp raised its holdings in Analog Devices by 2.4% during the second quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company’s stock worth $14,322,000 after acquiring an additional 1,406 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices In other news, CFO Richard Puccio, Jr. sold 2,683 shares of Analog Devices stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $374.56, for a total transaction of $1,004,944.48. Following the completion of the sale, the chief financial officer owned 54,177 shares of the company’s stock, valued at approximately $20,292,537.12. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $356.33, for a total transaction of $3,563,300.00. Following the completion of the sale, the chief executive officer directly owned 134,660 shares of the company’s stock, valued at approximately $47,983,397.80. The trade was a 6.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 41,363 shares of company stock valued at $15,477,939. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth ADI has been the subject of several recent research reports. Raymond James Financial reissued an “outperform” rating and set a $430.00 price target on shares of Analog Devices in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price objective on Analog Devices from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Needham & Company LLC increased their price objective on Analog Devices from $440.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, August 20th. TD Cowen reissued a “buy” rating and issued a $460.00 target price on shares of Analog Devices in a research note on Thursday, August 20th. Finally, Robert W. Baird raised their target price on shares of Analog Devices from $450.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Buy” and a consensus target price of $454.63. Get Our Latest Report on Analog Devices

Analog Devices Price Performance Shares of ADI opened at $362.25 on Monday. The firm has a market cap of $175.54 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.25. Analog Devices, Inc. has a 52 week low of $223.47 and a 52 week high of $445.91. The firm’s 50-day simple moving average is $377.17 and its 200 day simple moving average is $374.17.

Analog Devices (NASDAQ:ADI – Get Free Report) last issued its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.11. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was up 39.2% compared to the same quarter last year. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, analysts forecast that Analog Devices, Inc. will post 12.96 earnings per share for the current year.

Analog Devices Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Analog Devices’s dividend payout ratio (DPR) is presently 52.19%.

Analog Devices Profile (Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

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Analog Devices (ADI - Free Report) closed the last trading session at $362.14, gaining 0.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $463.35 indicates a 28% upside potential.

The average comprises 31 short-term price targets ranging from a low of $280.00 to a high of $675.00, with a standard deviation of $67.6. While the lowest estimate indicates a decline of 22.7% from the current price level, the most optimistic estimate points to a 86.4% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

But, for ADI, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Here's Why There Could be Plenty of Upside Left in ADIThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The Zacks Consensus Estimate for the current year has increased 4.3% over the past month, as 10 estimates have gone higher compared to no negative revision.

Moreover, ADI currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much ADI could gain, the direction of price movement it implies does appear to be a good guide.

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Let's take a look at what these Wall Street heavyweights have to say about Analog Devices (ADI - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Analog Devices currently has an average brokerage recommendation (ABR) of 1.25, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 32 brokerage firms. An ABR of 1.25 approximates between Strong Buy and Buy.

Of the 32 recommendations that derive the current ABR, 26 are Strong Buy and four are Buy. Strong Buy and Buy respectively account for 81.3% and 12.5% of all recommendations.

Brokerage Recommendation Trends for ADI

Check price target & stock forecast for Analog Devices here>>>

The ABR suggests buying Analog Devices, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Is ADI a Good Investment?Looking at the earnings estimate revisions for Analog Devices, the Zacks Consensus Estimate for the current year has increased 4.3% over the past month to $12.96.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Analog Devices. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Analog Devices may serve as a useful guide for investors.

Algert Global LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,758 shares of the semiconductor company’s stock, valued at approximately $7,450,000.

Other institutional investors have also modified their holdings of the company. ING Groep NV grew its stake in Analog Devices by 45.1% during the 4th quarter. ING Groep NV now owns 222,559 shares of the semiconductor company’s stock valued at $60,358,000 after acquiring an additional 69,202 shares in the last quarter. Covenant Asset Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $2,500,000. MGO One Seven LLC grew its position in Analog Devices by 17.7% during the fourth quarter. MGO One Seven LLC now owns 45,547 shares of the semiconductor company’s stock valued at $12,352,000 after purchasing an additional 6,846 shares in the last quarter. Natixis Advisors LLC grew its position in Analog Devices by 2.4% during the fourth quarter. Natixis Advisors LLC now owns 1,002,286 shares of the semiconductor company’s stock valued at $271,791,000 after purchasing an additional 23,531 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Analog Devices by 108.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 20,464 shares of the semiconductor company’s stock valued at $6,511,000 after buying an additional 10,648 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.5% Analog Devices stock opened at $371.80 on Thursday. Analog Devices, Inc. has a one year low of $223.47 and a one year high of $445.91. The company’s fifty day moving average price is $385.42 and its two-hundred day moving average price is $372.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 0.91. The company has a market capitalization of $180.16 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 0.76 and a beta of 1.20.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.11. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Analog Devices had a return on equity of 16.39% and a net margin of 29.79%.The business’s quarterly revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, analysts forecast that Analog Devices, Inc. will post 12.96 earnings per share for the current fiscal year. Analog Devices Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $1.10 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. Analog Devices’s dividend payout ratio (DPR) is presently 52.19%.

Insider Activity at Analog Devices In other Analog Devices news, SVP Martin Cotter sold 17,594 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total value of $7,354,292.00. Following the sale, the senior vice president directly owned 56,332 shares in the company, valued at $23,546,776. This represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,630,000.00. Following the sale, the chief executive officer directly owned 137,538 shares of the company’s stock, valued at approximately $49,926,294. The trade was a 6.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 45,274 shares of company stock valued at $17,889,486. Company insiders own 0.36% of the company’s stock.

Analyst Ratings Changes A number of brokerages have issued reports on ADI. Wolfe Research reissued an “outperform” rating and set a $475.00 target price on shares of Analog Devices in a research note on Thursday, May 21st. BMO Capital Markets began coverage on shares of Analog Devices in a research note on Thursday, August 20th. They issued an “outperform” rating and a $430.00 price target on the stock. Weiss Ratings upgraded Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Robert W. Baird lifted their price objective on Analog Devices from $450.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Bank of America boosted their target price on Analog Devices from $425.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Buy” and an average price target of $454.63.

Check Out Our Latest Stock Analysis on Analog Devices

About Analog Devices (Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

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Beacon Pointe Advisors LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,536 shares of the semiconductor company’s stock, valued at approximately $6,568,000.

Several other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new stake in Analog Devices during the 2nd quarter valued at $1,002,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Analog Devices during the second quarter valued at $1,210,000. Orion Capital Management LLC bought a new stake in shares of Analog Devices in the second quarter valued at about $44,000. Glenview Trust Co purchased a new stake in Analog Devices in the second quarter worth about $26,196,000. Finally, North Star Asset Management Inc. purchased a new stake in Analog Devices in the second quarter worth about $40,530,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance Shares of NASDAQ ADI opened at $361.78 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.25. The company has a market cap of $175.31 billion, a PE ratio of 42.92, a P/E/G ratio of 0.74 and a beta of 1.20. The business has a 50-day simple moving average of $382.77 and a two-hundred day simple moving average of $372.95. Analog Devices, Inc. has a fifty-two week low of $223.47 and a fifty-two week high of $445.91.

Analog Devices (NASDAQ:ADI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.11. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The company’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 12.96 EPS for the current fiscal year. Analog Devices Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, September 1st. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. Analog Devices’s dividend payout ratio is presently 52.19%.

Analysts Set New Price Targets ADI has been the topic of a number of research reports. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and raised their target price for the company from $430.00 to $465.00 in a research report on Wednesday, August 19th. Oppenheimer upped their price target on shares of Analog Devices from $400.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Raymond James Financial reiterated an “outperform” rating and set a $430.00 price objective on shares of Analog Devices in a research note on Thursday, May 21st. Fundamental Research set a $550.00 price objective on shares of Analog Devices in a report on Monday, June 29th. Finally, Bank of America boosted their price objective on shares of Analog Devices from $425.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Analog Devices has a consensus rating of “Buy” and a consensus target price of $454.63.

View Our Latest Stock Report on Analog Devices

Insider Buying and Selling at Analog Devices In other news, Director Karen Golz sold 1,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $374.50, for a total transaction of $374,500.00. Following the sale, the director directly owned 10,019 shares of the company’s stock, valued at $3,752,115.50. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $363.00, for a total value of $3,630,000.00. Following the completion of the transaction, the chief executive officer directly owned 137,538 shares in the company, valued at approximately $49,926,294. The trade was a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 48,957 shares of company stock worth $19,268,931 in the last three months. 0.36% of the stock is owned by company insiders.

Analog Devices Profile (Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

Further Reading Five stocks we like better than Analog Devices From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash Venture Into High-Volatility Corners of the Market With These 3 ETFs 3 Retail Stocks to Watch After a Big Consumer Earnings Week Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI – Free Report).

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

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Advisors Capital Management LLC purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,614 shares of the semiconductor company’s stock, valued at approximately $3,421,000.

Several other institutional investors have also recently added to or reduced their stakes in ADI. Brighton Jones LLC boosted its holdings in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares in the last quarter. Sivia Capital Partners LLC increased its position in Analog Devices by 36.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock worth $417,000 after purchasing an additional 464 shares during the period. Ieq Capital LLC increased its position in Analog Devices by 38.0% during the 2nd quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company’s stock worth $10,610,000 after purchasing an additional 12,276 shares during the period. HUB Investment Partners LLC purchased a new position in shares of Analog Devices during the 2nd quarter worth approximately $644,000. Finally, Peapack Gladstone Financial Corp raised its stake in shares of Analog Devices by 2.4% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company’s stock worth $14,322,000 after buying an additional 1,406 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices In other Analog Devices news, Director Ray Stata sold 1,432 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $400.83, for a total transaction of $573,988.56. Following the completion of the sale, the director directly owned 120,175 shares in the company, valued at $48,169,745.25. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 30,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total transaction of $12,453,900.00. Following the completion of the sale, the chief executive officer directly owned 137,538 shares of the company’s stock, valued at $57,096,149.94. The trade was a 17.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 75,274 shares of company stock worth $30,343,386. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In A number of research firms recently weighed in on ADI. Barclays lifted their price target on Analog Devices from $430.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Sanford C. Bernstein upgraded Analog Devices from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $430.00 to $465.00 in a research report on Wednesday. Citigroup raised their target price on Analog Devices from $400.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group boosted their target price on shares of Analog Devices from $410.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Truist Financial upped their price target on shares of Analog Devices from $364.00 to $405.00 and gave the stock a “hold” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $447.13. Get Our Latest Analysis on ADI

Analog Devices Trading Up 0.8% Shares of ADI opened at $373.09 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $180.79 billion, a P/E ratio of 44.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The stock’s fifty day simple moving average is $388.25 and its 200 day simple moving average is $371.11. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.34 by $0.11. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.92 billion. Analog Devices had a return on equity of 16.39% and a net margin of 29.79%.The firm’s revenue was up 39.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, equities research analysts forecast that Analog Devices, Inc. will post 12.72 earnings per share for the current year.

Analog Devices Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Analog Devices’s dividend payout ratio is 52.19%.

Analog Devices News Roundup Here are the key news stories impacting Analog Devices this week:

Positive Sentiment: Strong earnings and guidance: ADI reported record fiscal Q3 revenue of $4.02 billion, up about 40% year over year and ahead of the $3.92 billion consensus estimate. Adjusted EPS of $3.45 also exceeded expectations. Management’s fiscal Q4 EPS outlook of $3.71 to $4.01 points to continued momentum. Analog Devices Q3 Earnings Beat Estimates, Revenues Rise Y/Y Positive Sentiment: AI and data-center growth: Revenue from data-center applications reportedly more than doubled, while demand tied to AI infrastructure, power management, optical connectivity and energy systems is creating a multiyear growth opportunity. Management highlighted a potential 100-gigawatt data-center buildout by 2031. Analog Devices Q3 Earnings Call Highlights AI Power Growth Runway Positive Sentiment: Broad analyst support: JPMorgan raised its price target to $500 and maintained an Overweight rating. Needham, TD Cowen and Susquehanna also reiterated Buy-equivalent ratings, with targets ranging from $450 to $475. These revisions reflect confidence in AI demand, margin expansion and an improving industrial recovery. Analog Devices Is Cashing in on the AI Boom Neutral Sentiment: Relative investment appeal: Comparisons with Texas Instruments and dividend-focused AI investment ideas portray ADI as a financially solid way to gain analog-chip and AI exposure, though they do not represent new company-specific catalysts. ADI vs. TXN: Which Analog Processing Chip Stock Has an Edge Right Now? Negative Sentiment: Macro and valuation risks: Semiconductor stocks faced pressure from a sharp rise in the 30-year Treasury yield, which can weigh on high-valuation growth shares. One analysis also downgraded ADI, arguing that multiple contraction and elevated expectations could limit gains despite strong fundamentals. Chip Stocks Fell on Higher Treasury Yields About Analog Devices (Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

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Key Takeaways TXN leads ADI with stronger earnings momentum, estimated revisions and broad end-market growth.TXN's industrial, automotive and data center demand is supporting factory utilization across cycles.ADI trades below its median P/S multiple, while TXN's valuation is above its median. Analog Devices (ADI - Free Report) and Texas Instruments (TXN - Free Report) are two of the largest semiconductor players in the analog signal processing space. Both Analog Devices and Texas Instruments develop analog chips for industrial, automotive and consumer electronic applications.

With the recent boom in the semiconductor industry, the question remains: which stock has more upside potential? Let us break down their fundamentals, growth prospects, market challenges and valuation to determine which offers a more compelling investment case.

The Case for ADI StockAnalog Devices, being the original equipment manufacturer of semiconductor devices, specifically analog, mixed-signal and digital signal processing (DSP) integrated circuits, is benefiting from its strong market position in high-performance analog, especially in the industrial, communications infrastructure and consumer markets.

The strong momentum across the industrial and automotive end markets, especially the electric vehicle space, is growing on the back of its robust Battery Management System solutions. Analog Devices’ hybrid manufacturing strategy provides a significant competitive advantage by balancing internal production capacity with external partnerships.

In the second quarter of fiscal 2026, revenues reached $3.62 billion, up 37% year over year and 15% sequentially, with growth across all end markets led by Industrial and Communications. Adjusted gross margin was 73% and adjusted operating margin was 49.0%, reflecting favorable mix and higher utilization.

Industrial accounted for 50% of second-quarter fiscal 2026 revenues and increased 56% year over year and 20% sequentially to $1.80 billion. All Industrial businesses were up sequentially and year over year, led by aerospace and defense, ATE, ETM and the broad market. Automotive represented 24% of second-quarter fiscal 2026 revenues and increased 2% year over year and 8% sequentially to $871.6 million, reflecting better demand and content gains.

ADI’s management highlighted record bookings across its B2B market, including Industrial, Automotive and Communications and guided third-quarter fiscal 2026 revenues of $3.9 billion. The Zacks Consensus Estimate for ADI’s fiscal 2026 revenues suggests year-over-year growth of 34%. The consensus estimate for the bottom line indicates a year-over-year rise of 59%.The bottom line estimates have been revised upward in the past seven days.

Image Source: Zacks Investment Research

The Case for TXN StockTexas Instruments holds a key position in analog and embedded processing semiconductors, which are central to industrial, automotive, personal electronics and data center systems. In the second quarter of 2026, industrial revenue increased about 30% year over year, automotive rose in the mid-teens, data center doubled, personal electronics was flat and communications equipment grew.

Texas Instruments expects third-quarter 2026 demand to remain broad, with industrial, data center and automotive contributing alongside seasonal personal electronics demand. This mix is particularly important because Texas Instruments operates a large internal manufacturing base with substantial fixed costs, making diversified demand useful for sustaining factory utilization across cycles.

Texas Instruments continues to invest in analog and embedded processing products as it nears the end of an elevated multiyear manufacturing buildout. Capital expenditures were $1.19 billion in the first half of 2026, and management maintained its 2026 capital spending range of $2 billion to $3 billion,

The company also benefits from government grants totaling up to $1.6 billion in CHIPS Act funding, with total program benefits previously expected to range from $7.5 billion to $9.5 billion. In the first half of 2026, related cash benefits totaled $1.41 billion, reducing the net burden of domestic manufacturing investment.

The company is also maintaining R&D investment, with first-half 2026 R&D of $1.05 billion. Given these factors, TXN is expected to remain the leading player in the analog signal market. TXN’s bottom line growth rate despite the huge R&D and capex investment looks healthy. The Zacks Consensus Estimate for TXN’s year-over-year growth rate of 55% for fiscal 2026 substantiates it further. The bottom line estimates have been revised upward in the past 30 days.

Image Source: Zacks Investment Research

ADI vs. TXN: Price Performance and ValuationYear to date, TXN shares have climbed 53.1% compared with the 36.5% rise in ADI shares.

YTD Performance Chart
Image Source: Zacks Investment ResearchOn the valuation front, ADI looks more attractive than TXN. ADI trades at a forward 12-month P/S multiple of 11.04X below its median of 11.20X, while TXN’s 10.38X is higher than its median of 9.51X.

Forward 12-Month (P/S) Valuation Chart
Image Source: Zacks Investment Research

Conclusion: ADI vs. TXNOverall, TXN appears better positioned than ADI, supported by stronger earnings momentum, upward estimate revisions, broad end-market growth and improving manufacturing utilization. Although ADI offers a slightly more attractive valuation, TXN’s robust bottom-line growth, scale, manufacturing advantages and improving demand outlook provide a stronger foundation for sustained shareholder returns. TXN and ADI carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Analog Devices, Inc. delivered record Q3 revenue, strong earnings growth, and expanding margins, supporting a Buy rating. Q3 results showed broad-based strength across industrial, automotive, communications, and consumer segments, with AI infrastructure demand driving communications up 84%. Guidance for Q4 points to further sequential revenue and margin expansion, with management forecasting $4.3B revenue and 52% adjusted operating margin.

Analog Devices, Inc. (ADI - Free Report) used its fiscal third-quarter call to frame AI infrastructure power and connectivity as multiyear growth engines, alongside broader cyclical recovery.

Results topped the Zacks Consensus Estimate on adjusted earnings and revenues, but management focused on expanding data center content, fourth-quarter momentum and fiscal 2027 growth.

ADI Expands Its Grid-to-Chip AI FocusVincent Roche, CEO and chair, said power availability has become a central AI infrastructure constraint. ADI is targeting opportunities from grid monitoring and energy storage through rack and processor power.

Roche said ADI’s 2030 data center and energy serviceable addressable market has more than doubled from its assessment a year ago. The energy business exceeds $500 million.

In optics, Roche said optical circuit switching revenue is positioned to approximately double this year, with similar growth targeted in fiscal 2027. Empower also extends ADI’s power capabilities into processor packages.

Analog Devices Sets a Higher Q4 BarRichard Puccio, executive vice president and CFO, guided fiscal fourth-quarter revenues to $4.3 billion, plus or minus $100 million. Adjusted operating margin is expected at 52%, plus or minus 100 basis points, and adjusted earnings per share at $3.86, plus or minus 15 cents.

Fiscal third-quarter adjusted earnings were $3.45 per share comapred with the Zacks Consensus Estimate of $3.33. Revenues were $4.02 billion versus the $3.92 billion consensus, rising 40% year over year and 11% sequentially.

Puccio expects adjusted gross margin to rise about 150 basis points to roughly 74% in the fourth quarter, driven by favorable mix, fixed-cost absorption and pricing. Some announced pricing actions will have a fuller impact in the fiscal first quarter.

ADI Sees Data Center Strength ExtendingPuccio said communications revenues rose 84% year over year, with data center now accounting for 80% of that business. Data center optical and power revenues each grew more than 100%.

A Bernstein analyst asked whether communications could approach that pace in fiscal 2027. Jeff Ambrosi, head of investor relations and senior director, declined to provide a specific long-term rate and emphasized rising analog content and targeted share gains.

Roche said data center is on pace to nearly double in fiscal 2026, with strong double-digit growth expected through at least 2030. Ambrosi told Jefferies that ATE plus data center represents about 20% of ADI.

Analog Devices Frames FY27 Growth DriversA BofA Securities analyst pressed management on secular growth, cyclical recovery and pricing. Roche said aerospace and defense, ATE and data center together represent about 30% of ADI.

Roche expects Maxim-related synergies of about $700 million this year and more than $1 billion in fiscal 2027. Puccio said customers remain lean on inventory, without meaningful restocking activity.

Puccio added that much of the broader business remains below historical consumption levels. Roche expects solid fiscal 2027 growth while flagging macroeconomic and geopolitical risks, rate increases, financial-market volatility and lower AI capital spending.

ADI Addresses Supply and Margin DurabilityA Cantor Fitzgerald analyst asked about supply constraints. Puccio said ADI has delivered above-seasonal growth for nine consecutive quarters and is guiding to a 10th while adding internal tools and external wafer supply.

Puccio said management is planning for further capacity if growth persists. Roche added that ADI is jointly planning with external partners to extend its hybrid manufacturing model across a broad range of process nodes.

A TD Cowen analyst questioned the durability of roughly 74% gross margin. Puccio said that level can be maintained with expected revenue and mix, while Roche linked the margin structure to ADI’s innovation premium.

Analog Devices Keeps Discipline in FocusManagement paired investment in AI-related power, optics and energy with operating discipline. Puccio said ADI will balance growth spending with margin management as demand expands.

Roche emphasized portfolio breadth and manufacturing flexibility as tools for capturing secular and cyclical growth while keeping macroeconomic and geopolitical risks in view.

The call centered on ADI’s ability to scale supply, defend margins and convert rising AI infrastructure complexity into broader content opportunities over the coming years.

What Zacks Signals Say About ADIADI carries a Zacks Rank #2 (Buy), a favorable earnings-estimate-revision signal in Zacks’ one-to-three-month framework. Its Value Score is D, Growth Score is C, Momentum Score is D and VGM Score is D. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Zacks’ framework favors combining a Zacks Rank #1 or 2 with Style Scores of A or B. ADI’s weaker Style Scores temper the otherwise favorable Rank signal. The Zacks Rank can change as estimates are revised following the just-reported results.

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Please do your own due diligence and consult with your financial advisor, if you have one, before making any investment decisions. The author is not acting in an investment adviser capacity. The author's opinions expressed herein address only select aspects of potential investment in securities of the companies mentioned and cannot be a substitute for comprehensive investment analysis. The author recommends that potential and existing investors conduct thorough investment research of their own, including a detailed review of the companies' SEC filings. Any opinions or estimates constitute the author's best judgment as of the date of publication and are subject to change without notice.

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Key Takeaways Analog Devices guides Q4 revenues of $4.3B and adjusted EPS of $3.86.ADI expects data center revenues to rise 10% sequentially and strong double-digit growth through FY30.ADI expects the Q4 gross margin near 74%, aided by mix, absorption and pricing; more pricing lands in Q1'27. Analog Devices, Inc. (ADI - Free Report) used its third-quarter fiscal 2026 call to emphasize a widening AI infrastructure opportunity, with power availability, optical connectivity and energy systems central to its long-term growth strategy.

The company also entered the fiscal fourth quarter with a record outlook after revenues of $4.02 billion and adjusted earnings of $3.45 per share exceeded the Zacks Consensus Estimate of $3.92 billion and $3.33, respectively.

ADI Sets Stronger Q4 BaselineExecutive vice president and CFO Richard Puccio guided fiscal fourth-quarter revenues of $4.3 billion, plus or minus $100 million, with an adjusted operating margin of 52%, plus or minus 100 basis points.

Adjusted earnings are expected to be $3.86 per share, plus or minus $0.15. Puccio added that communications should lead sequential growth, with data center revenues rising 10%.

Puccio said that industrial and consumer are expected to rise in the high single digits sequentially, while automotive is projected to increase in the low single digits.

Analog Devices Expands Grid-to-Chip PushCEO and chair Vincent Roche centered his remarks on a grid-to-chip strategy designed around AI infrastructure's rising energy and data-density requirements.

Roche said that ADI's opportunity spans grid monitoring, energy storage, rack and processor power, telemetry, and optical control. The company's 2030 data center and energy serviceable market opportunity has more than doubled from its estimate a year ago.

Roche added that optical circuit-switching revenues are positioned to roughly double this year, with a similar growth target for fiscal 2027, backed by design wins and customer commitments.

ADI Sees Multi-Year Data Center GrowthPuccio said that data center now represents 80% of communications revenues, while both optical and power revenues grew more than 100% year over year in the quarter.

A Bernstein analyst pressed management on whether that pace could extend into fiscal 2027. Roche declined to provide a specific annual growth rate but said that he expects strong double-digit data center growth through at least 2030.

A Stifel analyst asked whether the analog industry's growth profile is shifting higher. Roche stated that the analog business could compound at double-digit rates for several years as AI raises analog content and solution complexity.

Analog Devices Defends Margin DurabilityA JPMorgan analyst focused on the expected step-up in the gross margin. Puccio expected the fiscal fourth-quarter gross margin to rise 150 basis points to 74%.

Puccio attributed the improvement to a favorable mix, higher fixed-cost absorption and pricing actions. He added that the full effect of announced pricing will not be captured until first-quarter fiscal 2027.

A TD Cowen analyst asked whether roughly 74% can be sustained. Puccio stated that the level can be maintained with the expected revenues and mix, while flagging seasonal shutdowns, inflation and growth investments as offsets.

ADI Builds Supply for Accelerating DemandA Cantor Fitzgerald analyst asked whether supply capacity could constrain continued growth. Puccio said that ADI has delivered above-seasonal growth for nine straight quarters and is guiding to a 10th.

Puccio informed that management is adding tools internally, securing more external wafers and building inventory. He said that book-to-bill remains above 1, while lead times have begun to extend in parts of the industry.

Roche stated that ADI is jointly planning with external manufacturing partners across process nodes and continues to expand its hybrid manufacturing model to support longer-term demand.

Analog Devices Balances Growth & RisksDuring Q&A, a Bank of America analyst asked about fiscal 2027. Roche said that management expects a brisk growth year, citing AI, defense, cyclical recovery, pricing and Maxim-related synergies.

Roche also identified macro conditions, geopolitical risks, potential rate hikes, financial-market volatility and a slowdown in AI capital spending as factors that could alter the trajectory.

Puccio's closing emphasis remained on balancing execution discipline with targeted growth investment as ADI moves into fiscal 2027, with record quarterly revenues and a fiscal fourth-quarter outlook.

ADI's Zacks Signals Stay MixedAnalog Devices currently carries a Zacks Rank #2 (Buy), which indicates favorable earnings-estimate-revision trends over the Zacks Rank's one- to three-month horizon. However, its Value Score of D, Momentum Score of D and VGM Score of D are weaker than the A or B grades favored alongside top Zacks Ranks.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Its Growth Score of C is comparatively stronger but still below the preferred A or B range. The combination points to a positive Rank signal moderated by weaker Style Scores, and the Zacks Rank can change as analysts revise estimates following the just-reported results.

Analog Devices' NASDAQ: ADI stock price could reach fresh highs in 2026 and then continue to trend higher, driven by its fiscal Q3 earnings release and guidance. The results and outlook were robust, affirming the trends in place, strengthening analysts' sentiment, and pointing to momentum gains in upcoming quarters.

Analog Devices Today

ADI

Analog Devices

$384.38 +11.12 (+2.98%)

As of 09:36 AM Eastern

This is a fair market value price provided by Massive. Learn more.

$223.47▼

$445.911.14%

56.06

$446.00

The key takeaway is that results are being driven by broad-based demand for its analog semiconductor solutions, demand that is strengthening. This demand is tied to AI, which is still in the very early phases of build-out and adoption.

Get Analog Devices alerts:

While data center business is driving strength for Analog Devices today, the Industrial segment is also performing well, and all segments are expected to remain strong well into the future. The AI boom unleashed a global semiconductor supercycle, and it has years to play out.

The initial data center buildout is still underway and isn't expected to be completed until 2028/2029, while the second wave is about to begin, underpinned by Advanced Micro Devices' NASDAQ: AMD MI450 and the Helios rack release. Beyond data centers, autonomous vehicles and the internet of things (IoT) are key business drivers. Demand in these areas is large and growing, gaining momentum in 2026 and likely to accelerate in the coming years as the technology advances and adoption increases.

Analog Devices Builds Momentum in Q3 2026Analog Devices had an excellent quarter with growth outperforming consensus estimates at the top and bottom lines. Revenue of $4.02 billion grew nearly 40% year-over-year, outperforming estimates by approximately 200 basis points (bps) on double-digit growth in nearly all segments. Communications led with an 84% year-over-year (YOY) increase, underpinned by data center demand, followed by a 53% increase in Industrial, a 16% increase in Automotive, and a 6% gain in Consumer.

Catalysts for higher share prices include margin expansion driven by operational quality and improving revenue leverage. Key details include hundreds of bps of improvement at the gross and operating levels and accelerated earnings growth. Adjusted earnings per share grew by 68% compared to the nearly 40% top-line gain, outperforming expectations by over 320 bps, and the strength carries through into the guidance.

Guidance provides a dual catalyst: it is better than expected and likely to be cautious. With NVIDIA NASDAQ: NVDA cementing demand, derisking the outlook by securitizing GPUs, Advanced Micro Devices delivering MI450s at scale, and IoT and AV gaining traction, Analog Devices is more likely than not to continue building momentum.

Analysts' Trends Strengthen After ADI Updates GuidanceAnalysts' trends were bullish leading into the Q3 release and strengthened in its wake. Early updates included reaffirmed price targets at the high end of the expected range, validating the Moderate Buy rating, with the consensus target of $441 forecasting about 15% upside and the high end adding 20%. Commentary has focused on business breadth, margin improvement, and the possibility that guidance may have been cautious.

Institutional trends align with the thesis for higher share prices and limit Q3 risk. The group owns more than 86% of the stock and has been accumulating aggressively. The trailing 12-month (TTM) pace of accumulation is above $5-to-$1, with buying ramping in early Q3 to a strong multiyear high just before the report was revealed. The likely outcome is continued accumulation, potentially accelerating as the year progresses, driven by the company's fundamental strength and its impact on capital return.

Investors Can Tap Into AI Cash Flow With Analog DevicesAnalog Devices is a unique AI play because it is an operating business with the capacity to deliver at scale - this is not a start-up or emergent technology. It is investing in growth while still generating positive free cash flow, improving its balance sheet, and returning capital to investors. Capital returns include dividends and share buybacks, with the dividend yielding about 1.2% and buybacks reducing the share count by 1.5% compared to the first half of 2025. Looking ahead, investors can expect the company to continue with its payments and share reduction, including annual distribution increases. The company is on track to achieve Dividend Champion status, a catalyst for future price action.

Analog Devices’ biggest risk this year is valuation. Trading at 30x current-year earnings, the stock is highly valued, trading about twice its typical range. However, this prices in a robust growth trajectory that has, so far, proven cautious.

Analog Devices' price-to-earnings (P/E) multiple could fall to the mid-teens by 2030, setting the stage for significant stock price gains over time. What that market hasn’t quite accepted is that Analog Devices has transitioned from a legacy, analog chipmaker into an AI-critical infrastructure play. Its importance lies in power control, multiphase switching, and optical circuit switching, elements AI can not function without.

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Analog Devices NASDAQ: ADI reported fiscal third-quarter results that exceeded its outlook, with record revenue of $4.02 billion as growth accelerated across its industrial, automotive, communications and consumer markets. CEO and Chair Vincent Roche said the company's first $4 billion quarter was supported by demand tied to artificial intelligence infrastructure, defense spending, cyclical momentum and increasing semiconductor content across its end markets.

Analog Devices, Inc. (ADI) Q3 2026 Earnings Call Transcript

Analog Devices (ADI - Free Report) reported $4.02 billion in revenue for the quarter ended July 2026, representing a year-over-year increase of 39.6%. EPS of $3.45 for the same period compares to $2.05 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.92 billion, representing a surprise of +2.49%. The company delivered an EPS surprise of +3.6%, with the consensus EPS estimate being $3.33.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Analog Devices performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue by end market- Consumer: $397.23 million versus the five-analyst average estimate of $386.06 million. The reported number represents a year-over-year change of +6.7%.Revenue by end market- Communications: $654.52 million compared to the $637.28 million average estimate based on five analysts. The reported number represents a change of +75.7% year over year.Revenue by end market- Automotive: $998.23 million compared to the $940.89 million average estimate based on five analysts. The reported number represents a change of +17.4% year over year.Revenue by end market- Industrial: $1.97 billion versus the five-analyst average estimate of $1.95 billion. The reported number represents a year-over-year change of +53.5%.View all Key Company Metrics for Analog Devices here>>>

Shares of Analog Devices have returned -1.6% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Revenue of $4.02 billion, with year-over-year growth led by Data Center and Industrial Operating cash flow of $5.5 billion and free cash flow of $4.9 billion on a trailing twelve-month basis or 40% and 36% of revenue, respectively Returned $1.7 billion to shareholders via dividends and share repurchases in the third quarter , /PRNewswire/ -- Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its fiscal third quarter 2026, which ended August 1, 2026.

"ADI delivered a strong third quarter, exceeding the midpoint of our revenue, margin, and earnings outlook as we capitalized on broad-based demand," said Vincent Roche, CEO and Chair.  "We continue to extend our leadership through a powerful combination of innovation, deep customer collaboration, and manufacturing agility.  Our investments in these foundational areas, combined with the trust we have built over decades, provide a unique advantage to create, deliver, and capture value in the AI era – for customers and investors alike."

"Demand continued to strengthen across our product portfolio and regions throughout the third quarter, which is reflected in our record fourth quarter outlook" said Richard Puccio, CFO. "We believe our balance of disciplined execution and targeted growth investments will enable us to finish the year strongly and carry that momentum into fiscal 2027." 

Performance for the Third Quarter of Fiscal 2026 

Results Summary(1)

(in millions, except per-share amounts and percentages)

Three Months Ended

Aug. 1, 2026

Aug. 2, 2025

Change

Revenue

$            4,022

$            2,880

40 %

Gross margin

$            2,708

$            1,790

51 %

Gross margin percentage

67.3 %

62.1 %

520 bps

Operating income

$            1,613

$               818

97 %

Operating margin

40.1 %

28.4 %

1,170 bps

Diluted earnings per share

$              2.74

$              1.04

163 %

Adjusted Results(2)

Adjusted gross margin

$            2,917

$            1,995

46 %

Adjusted gross margin percentage

72.5 %

69.2 %

330 bps

Adjusted operating income

$            2,010

$            1,215

65 %

Adjusted operating margin

50.0 %

42.2 %

780 bps

Adjusted diluted earnings per share

$              3.45

$              2.05

68 %

Three Months
Ended

Trailing Twelve
Months

Cash Generation

Aug. 1, 2026

Aug. 1, 2026

Net cash provided by operating activities

$            1,604

$            5,545

% of revenue

40 %

40 %

Capital expenditures

$              (146)

$              (608)

Free cash flow(2)

$            1,458

$            4,937

% of revenue

36 %

36 %

Three Months
Ended

Trailing Twelve
Months

Cash Return

Aug. 1, 2026

Aug. 1, 2026

Dividend paid

$              (535)

$            (2,043)

Stock repurchases

(1,157)

(3,127)

Total cash returned

$           (1,692)

$            (5,170)

(1) The sum and/or computation of the individual amounts may not equal the total due to rounding.

(2) Reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures are provided
in the financial tables included in this press release. See also the "Non-GAAP Financial Information" section for additional information.

Outlook for the Fourth Quarter of Fiscal Year 2026

For the fourth quarter of fiscal 2026, we are forecasting revenue of $4.3 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 42.6%, +/-150 bps, and adjusted operating margin of approximately 52.0%, +/-100 bps. We are planning for reported EPS to be $3.14, +/-$0.15, and adjusted EPS to be $3.86, +/-$0.15.  

Our fourth quarter fiscal 2026 outlook is based on current expectations and actual results may differ materially as a result of, among other things, the important factors discussed at the end of this release. The statements about our fourth quarter fiscal 2026 outlook supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.

The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release. See also the "Non-GAAP Financial Information" section for additional information.

Dividend Payment

The ADI Board of Directors has declared a quarterly cash dividend of $1.10 per outstanding share of common stock. The dividend will be paid on September 15, 2026 to all shareholders of record at the close of business on September 1, 2026.

Conference Call Scheduled for Today, Wednesday, August 19, 2026 at 10:00 am ET

ADI will host a conference call to discuss our third quarter fiscal 2026 results and short-term outlook today, beginning at 10:00 am ET. Investors may join via webcast, accessible at investor.analog.com.

Non-GAAP Financial Information

This release includes non-GAAP financial measures that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (GAAP) and may be different from non-GAAP measures presented by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. These non-GAAP measures have material limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP and should not be considered in isolation from, or as a substitute for, the Company's financial results presented in accordance with GAAP. The Company's use of non-GAAP measures, and the underlying methodology when including or excluding certain items, is not necessarily an indication of the results of operations that may be expected in the future, or that the Company will not, in fact, record such items in future periods. You are cautioned not to place undue reliance on these non-GAAP measures. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release.

Management uses non-GAAP measures internally to evaluate the Company's operating performance from continuing operations against past periods and to budget and allocate resources in future periods. These non-GAAP measures also assist management in evaluating the Company's core business and trends across different reporting periods on a consistent basis. Management also uses these non-GAAP measures as primary performance measurements when communicating with analysts and investors regarding the Company's earnings results and outlook and believes that the presentation of these non-GAAP measures is useful to investors because it provides investors with the operating results that management uses to manage the Company and enables investors and analysts to evaluate the Company's core business. Management also believes that free cash flow, a non-GAAP liquidity measure, is useful both internally and to investors because it is indicative of the Company's ability to pay dividends, purchase common stock, make investments and fund acquisitions and, in the absence of refinancings, to repay its debt obligations.  

The non-GAAP financial measures referenced by ADI in this release include: adjusted gross margin, adjusted gross margin percentage, adjusted operating expenses, adjusted operating expenses percentage, adjusted operating income, adjusted operating margin, adjusted nonoperating expense (income), adjusted income before income taxes, adjusted provision for income taxes, adjusted tax rate, adjusted diluted earnings per share (EPS), free cash flow, and free cash flow revenue percentage. 

Adjusted gross margin is defined as gross margin, determined in accordance with GAAP, excluding: certain acquisition related expenses1, which are described further below. Adjusted gross margin percentage represents adjusted gross margin divided by revenue. 

Adjusted operating expenses is defined as operating expenses, determined in accordance with GAAP, excluding: certain acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating expenses percentage represents adjusted operating expenses divided by revenue.

Adjusted operating income is defined as operating income, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating margin represents adjusted operating income divided by revenue. 

Adjusted nonoperating expense (income) is defined as nonoperating expense (income), determined in accordance with GAAP, excluding: certain acquisition related expenses1, which is described further below.   

Adjusted income before income taxes is defined as income before income taxes, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below.   

Adjusted provision for income taxes is defined as provision for income taxes, determined in accordance with GAAP, excluding tax related items4, which are described further below. Adjusted tax rate represents adjusted provision for income taxes divided by adjusted income before income taxes. 

Adjusted diluted EPS is defined as diluted EPS, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, special charges, net3, and tax related items4, which are described further below.

Free cash flow is defined as net cash provided by operating activities, determined in accordance with GAAP, less additions to property, plant and equipment, net. Free cash flow revenue percentage represents free cash flow divided by revenue.  

1Acquisition Related Expenses: Expenses incurred as a result of current and prior period acquisitions and primarily include expenses associated with the fair value adjustments to debt, property, plant and equipment and amortization of acquisition related intangibles, which include acquired intangibles such as purchased technology and customer relationships. We excluded these costs from our non-GAAP measures because they relate to specific transactions and are not reflective of our ongoing financial performance.

2Acquisition Related Transaction Costs: Costs directly related to the acquisition of Empower Semiconductor, Inc., including legal, accounting and other professional fees as well as integration-related costs. We exclude these costs from our non-GAAP measures because they relate to a specific transaction and are not reflective of our ongoing financial performance.

3Special Charges, Net: Expenses, net, incurred in connection with facility closures, consolidation of manufacturing facilities, severance, other accelerated stock-based compensation expense and other cost reduction efforts or reorganizational initiatives. We excluded these expenses from our non-GAAP measures because apart from ongoing expense savings as a result of such items, these expenses have no direct correlation to the operation of our business in the future.

4Tax Related Items: Income tax effect of the non-GAAP items discussed above. We excluded the income tax effect of these tax related items from our non-GAAP measures because they are not associated with the tax expense on our current operating results.

About Analog Devices, Inc.

Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that combat climate change, reliably connect humans and the world, and help drive advancements in automation and robotics, mobility, healthcare, energy and data centers. With revenue of more than $11 billion in FY25, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and X.

Forward-Looking Statements

This press release contains forward-looking statements, which address a variety of subjects including, for example, our statements regarding future financial performance; economic uncertainty; macroeconomic, geopolitical, demand and other market conditions, business cycles, and supply chains; our capital allocation strategy, including future dividends, share repurchases, capital expenditures, investments, and free cash flow returns; expected revenue, operating margin, nonoperating expenses, tax rate, earnings per share, and other financial results; expected market and technology trends and acceleration of those trends; markets, market position, addressable markets, and growth opportunities; expected product solutions, offerings, technologies, capabilities, and applications; the value and importance of, and other benefits related to, our product solutions, offerings, and technologies to our customers; benefits related to our hybrid manufacturing model; benefits related to acquisitions; statements related to seasonality; and other future events. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: economic, political, legal and regulatory uncertainty or conflicts; recently announced and future tariffs and other trade restrictions; changes in export classifications, import and export regulations or duties and tariffs; changes in demand for semiconductor products; performance of independent distributors; manufacturing delays, product and raw materials availability and supply chain disruptions; products may be diverted from our authorized distribution channels; our development of technologies and research and development investments; our ability to compete successfully in the markets in which we operate; our future liquidity, capital needs and capital expenditures;  our ability to recruit and retain key personnel; risks related to acquisitions or other strategic transactions; security breaches or other cyber incidents; risks related to the use of artificial intelligence in our business operations, products, and services; adverse results in litigation matters; reputational damage; changes in our estimates of our expected tax rates based on current tax law; risks related to our indebtedness; the discretion of our Board of Directors to declare dividends and our ability to pay dividends in the future; factors impacting our ability to repurchase shares; and uncertainty as to the long-term value of our common stock. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

Analog Devices and the Analog Devices logo are registered trademarks or trademarks of Analog Devices, Inc. All other trademarks mentioned in this document are the property of their respective owners.

ANALOG DEVICES, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended

Nine Months Ended

Aug. 1, 2026

Aug. 2, 2025

Aug. 1, 2026

Aug. 2, 2025

Revenue

$     4,021,899

$     2,880,348

$    10,805,627

$     7,943,590

Cost of sales

1,314,355

1,090,600

3,613,309

3,111,929

Gross margin

2,707,544

1,789,748

7,192,318

4,831,661

Operating expenses:

   Research and development

533,480

454,251

1,510,203

1,298,980

   Selling, marketing, general and administrative

397,326

325,706

1,105,389

913,171

   Amortization of intangibles

187,985

187,415

563,285

562,245

   Special charges, net

(24,216)

4,348

23,766

69,980

Total operating expenses

1,094,575

971,720

3,202,643

2,844,376

Operating income

1,612,969

818,028

3,989,675

1,987,285

Nonoperating expense (income):

   Interest expense

88,728

79,592

262,692

229,559

   Interest income

(25,377)

(27,083)

(86,199)

(72,295)

   Other, net

3,749

2,110

(3,386)

5,108

Total nonoperating expense (income)

67,100

54,619

173,107

162,372

Income before income taxes

1,545,869

763,409

3,816,568

1,824,913

Provision for income taxes

205,779

244,891

469,302

345,309

Net income

$     1,340,090

$        518,518

$      3,347,266

$     1,479,604

Shares used to compute earnings per common share - basic

486,021

494,390

487,500

495,560

Shares used to compute earnings per common share - diluted

488,837

496,726

490,317

497,865

Basic earnings per common share

$              2.76

$              1.05

$               6.87

$              2.99

Diluted earnings per common share

$              2.74

$              1.04

$               6.83

$              2.97

ANALOG DEVICES, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share and per share amounts)

Aug. 1, 2026

Nov. 1, 2025

ASSETS

Current Assets

Cash and cash equivalents

$          2,165,870

$          2,499,406

Short-term investments

159,064

1,152,915

Accounts receivable

2,389,577

1,436,075

Inventories

1,931,496

1,656,323

Prepaid expenses and other current assets

426,523

363,342

Total current assets

7,072,530

7,108,061

Non-current Assets

Net property, plant and equipment

3,351,981

3,315,696

Goodwill

27,988,737

26,945,180

Intangible assets, net

7,468,220

8,013,815

Deferred tax assets

1,689,972

1,867,102

Other assets

852,977

742,858

Total non-current assets

41,351,887

40,884,651

TOTAL ASSETS

$        48,424,417

$        47,992,712

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities

Accounts payable

$             682,167

$             543,760

Income taxes payable

461,804

610,370

Debt, current

1,344,855

—

Commercial paper notes

1,005,104

446,639

Accrued liabilities

2,162,324

1,645,032

Total current liabilities

5,656,254

3,245,801

Non-current Liabilities

Long-term debt

6,771,624

8,145,066

Deferred income taxes

1,837,959

2,163,281

Income taxes payable

90,723

100,963

Other non-current liabilities

516,960

521,846

Total non-current liabilities

9,217,266

10,931,156

Shareholders' Equity

Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding

—

—

Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 484,565,465 shares
outstanding (489,654,097 on November 1, 2025)

80,762

81,611

Capital in excess of par value

21,288,447

23,349,185

Retained earnings

12,330,779

10,539,541

Accumulated other comprehensive loss

(149,091)

(154,582)

Total shareholders' equity

33,550,897

33,815,755

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$        48,424,417

$        47,992,712

ANALOG DEVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

Three Months Ended

Nine Months Ended

Aug. 1, 2026

Aug. 2, 2025

Aug. 1, 2026

Aug. 2, 2025

Cash flows from operating activities:

  Net income

$   1,340,090

$      518,518

$   3,347,266

$   1,479,604

  Adjustments to reconcile net income to net cash provided by operations:

       Depreciation

104,455

102,542

315,298

301,323

       Amortization of intangibles

389,765

384,750

1,160,358

1,202,179

       Stock-based compensation expense

96,255

84,703

263,651

235,108

       Deferred income taxes

(161,011)

52,052

(281,941)

(97,318)

       Other

(24,104)

(5,699)

(19,377)

(1,496)

       Changes in operating assets and liabilities

(141,491)

28,239

(940,740)

(8,008)

   Total adjustments

263,869

646,587

497,249

1,631,788

Net cash provided by operating activities

1,603,959

1,165,105

3,844,515

3,111,392

Cash flows from investing activities:

  Purchases of short-term available-for-sale investments

—

(1,150,240)

—

(1,150,240)

  Maturities of short-term available-for-sale investments

842,840

—

990,657

372,778

  Additions to property, plant and equipment, net

(145,662)

(79,153)

(392,677)

(318,399)

  Proceeds from sale of property, plant and equipment, net

—

—

—

58,892

  Proceeds from sale of a subsidiary, net

96,592

—

96,592

—

  Payments for acquisitions, net of cash acquired

(1,500,174)

—

(1,536,049)

(45,652)

  Other

(8,543)

(715)

(32,425)

(13,595)

Net cash used for investing activities

(714,947)

(1,230,108)

(873,902)

(1,096,216)

Cash flows from financing activities:

  Proceeds from debt

—

1,490,785

—

1,490,785

  Debt repayments

—

—

—

(399,998)

  Proceeds from commercial paper notes

5,906,409

2,551,168

13,061,198

6,867,508

  Payments of commercial paper notes

(5,451,502)

(2,551,223)

(12,502,732)

(6,866,581)

  Repurchase of common stock

(1,157,008)

(1,075,152)

(2,446,409)

(1,484,166)

  Dividend payments to shareholders

(535,309)

(490,161)

(1,556,028)

(1,437,521)

  Proceeds from employee stock plans

61,684

42,767

121,171

104,329

  Other

15,668

41,775

18,651

40,317

Net cash (used for) provided by financing activities

(1,160,058)

9,959

(3,304,149)

(1,685,327)

Net (decrease) increase in cash and cash equivalents

(271,046)

(55,044)

(333,536)

329,849

Cash and cash equivalents at beginning of period

2,436,916

2,376,235

2,499,406

1,991,342

Cash and cash equivalents at end of period

$   2,165,870

$   2,321,191

$   2,165,870

$   2,321,191

ANALOG DEVICES, INC.
REVENUE TRENDS BY END MARKET
(Unaudited)
(In thousands)

The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the "sold to" customer information, the "ship to" customer information and the end customer product or application into which our product will be incorporated. The assignment of products to end markets may change over time. When this occurs, we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market.

Three Months Ended

August 1, 2026

August 2, 2025

Revenue

% of Revenue1

Y/Y%

Revenue

% of Revenue1

Industrial

$     1,971,926

49 %

53 %

$     1,292,988

45 %

Automotive

998,227

25 %

16 %

857,146

30 %

Communications

654,515

16 %

84 %

354,768

12 %

Consumer

397,231

10 %

6 %

375,446

13 %

Total revenue

$     4,021,899

100 %

40 %

$     2,880,348

100 %

Nine Months Ended

August 1, 2026

August 2, 2025

Revenue

%  of Revenue1

Y/Y%

Revenue

% of Revenue1

Industrial

$     5,269,825

49 %

50 %

$     3,512,896

44 %

Automotive

2,685,246

25 %

9 %

2,454,845

31 %

Communications

1,659,553

15 %

72 %

965,036

12 %

Consumer

1,191,003

11 %

18 %

1,010,813

13 %

Total revenue

$   10,805,627

100 %

36 %

$     7,943,590

100 %

1) The sum of the individual percentages may not equal the total due to rounding.

ANALOG DEVICES, INC.

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended

Nine Months Ended

Aug. 1, 2026

Aug. 2, 2025

Aug. 1, 2026

Aug. 2, 2025

Gross margin

$     2,707,544

$     1,789,748

$     7,192,318

$     4,831,661

  Gross margin percentage

67.3 %

62.1 %

66.6 %

60.8 %

      Acquisition related expenses

209,192

204,756

619,404

662,865

Adjusted gross margin

$     2,916,736

$     1,994,504

$     7,811,722

$     5,494,526

  Adjusted gross margin percentage

72.5 %

69.2 %

72.3 %

69.2 %

Operating expenses

$     1,094,575

$        971,720

$     3,202,643

$     2,844,376

  Percent of revenue

27.2 %

33.7 %

29.6 %

35.8 %

      Acquisition related expenses

(188,594)

(188,015)

(565,089)

(564,045)

      Acquisition related transaction costs

(23,391)

—

(23,391)

—

      Special charges, net

24,216

(4,348)

(23,766)

(69,980)

Adjusted operating expenses

$        906,806

$        779,357

$     2,590,397

$     2,210,351

  Adjusted operating expenses percentage

22.5 %

27.1 %

24.0 %

27.8 %

Operating income

$     1,612,969

$        818,028

$     3,989,675

$     1,987,285

  Operating margin

40.1 %

28.4 %

36.9 %

25.0 %

      Acquisition related expenses

397,786

392,771

1,184,493

1,226,910

      Acquisition related transaction costs

23,391

—

23,391

—

      Special charges, net

(24,216)

4,348

23,766

69,980

Adjusted operating income

$     2,009,930

$     1,215,147

$     5,221,325

$     3,284,175

  Adjusted operating margin

50.0 %

42.2 %

48.3 %

41.3 %

Nonoperating expense (income)

$          67,100

$          54,619

$        173,107

$        162,372

      Acquisition related expenses

2,150

2,150

6,450

6,450

Adjusted nonoperating expense (income)

$          69,250

$          56,769

$        179,557

$        168,822

Income before income taxes

$     1,545,869

$        763,409

$     3,816,568

$     1,824,913

     Acquisition related expenses

395,636

390,621

1,178,043

1,220,460

     Acquisition related transaction costs 

23,391

—

23,391

—

     Special charges, net

(24,216)

4,348

23,766

69,980

Adjusted income before income taxes

$     1,940,680

$     1,158,378

$     5,041,768

$     3,115,353

Provision for income taxes

$        205,779

$        244,891

$        469,302

$        345,309

Effective income tax rate

13.3 %

32.1 %

12.3 %

18.9 %

     Tax related items

48,270

(106,855)

162,938

15,780

Adjusted provision for income taxes

$        254,049

$        138,036

$        632,240

$        361,089

Adjusted tax rate

13.1 %

11.9 %

12.5 %

11.6 %

Diluted EPS

$              2.74

$              1.04

$              6.83

$              2.97

      Acquisition related expenses

0.81

0.79

2.40

2.45

      Acquisition related transaction costs

0.05

—

0.05

—

      Special charges, net

(0.05)

0.01

0.05

0.14

      Tax related items

(0.10)

0.22

(0.33)

(0.03)

Adjusted diluted EPS*

$              3.45

$              2.05

$              8.99

$              5.53

* The sum of the individual per share amounts may not equal the total due to rounding.

ANALOG DEVICES, INC.

RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW

(Unaudited)

(In thousands)

Trailing
Twelve
Months

Three Months Ended

Aug. 1, 2026

Aug. 1, 2026

May 2, 2026

Jan. 31, 2026

Nov. 1, 2025

Revenue

$  13,881,544

$ 4,021,899

$ 3,623,465

$ 3,160,063

$ 3,076,117

Net cash provided by operating activities

$    5,545,325

$ 1,603,959

$    872,041

$ 1,368,515

$ 1,700,810

% of Revenue

40 %

40 %

24 %

43 %

55 %

Capital expenditures

$      (607,830)

$   (145,662)

$   (137,702)

$   (109,313)

$   (215,153)

Free cash flow

$    4,937,495

$ 1,458,297

$    734,339

$ 1,259,202

$ 1,485,657

% of Revenue

36 %

36 %

20 %

40 %

48 %

ANALOG DEVICES, INC.

RECONCILIATION OF PROJECTED GAAP TO NON-GAAP RESULTS

(Unaudited)

Three Months Ending October 31, 2026

Reported

Adjusted

Revenue

$4.3 Billion

$4.3 Billion

(+/- $100 Million)

(+/- $100 Million)

Operating margin

42.6 %

52.0 %(1)

(+/-150 bps)

(+/-100 bps)

Nonoperating expense

~$80 Million

~$80 Million

Tax rate

12% - 14%

12% - 14% (2)

Earnings per share

$3.14

$3.86 (3)

(+/- $0.15)

(+/- $0.15)

(1) Includes $405 million of adjustments related to acquisition related expenses as previously defined in the Non-GAAP Financial Information section of this press release. 

(2) Includes $53 million of tax effects associated with the adjustment for acquisition related expenses noted above.

(3) Includes $0.72 of adjustments related to the net impact of acquisition related expenses and the tax effects on those items.

For more information, please contact: 

Jeff Ambrosi
Senior Director, Investor Relations
Analog Devices, Inc.
781-461-3282
[email protected] 

SOURCE Analog Devices, Inc.

Analog Devices (ADI.O) forecast fourth-quarter revenue and profit above Wall Street estimates on Wednesday, betting ​on continued demand for its power-management chips ‌used across data centers and industrial applications as AI investments ramp up.

The company stands to benefit from surging ​investment in AI-driven computing, which has boosted ​demand for chips that regulate power and ⁠move vast amounts of data. Its components are ​widely used in data centers, factory automation equipment ​and modern vehicles.

The company reported third-quarter revenue of $4.02 billion, up 40% from a year earlier and above analysts' estimates ​of $3.92 billion.

It reported adjusted earnings per share (EPS) ​of $3.45 for the quarter, beating estimates of $3.33.

CEO Vincent Roche said ‌the ⁠company benefited from broad-based demand in the third quarter, and that investments in innovation, customer relationships and manufacturing capabilities position it to capitalize on ​opportunities in ​the AI ⁠era.

The Wilmington, Massachusetts-based company expects fourth-quarter revenue of $4.3 billion, plus or minus $100 ​million, compared with analysts' average estimate of $4.07 ​billion, ⁠according to data compiled by LSEG.

It expects fourth-quarter adjusted EPS of $3.86, compared with estimates of $3.54.

Shares of ⁠the ​chipmaker, which have gained about ​39% so far this year, were flat in premarket trading.

Key Takeaways
Analog Devices is due to report earnings Wednesday morning, with options pricing suggesting traders see the stock swinging up to 6% by the end of the week. The chipmaker is expected to post growing revenue and profits, amid improving demand for chips used in cars.

Analog Devices is scheduled to report earnings ahead of the opening bell on Wednesday, with traders anticipating a sizable move from the chipmaker’s stock.1

Based on current options pricing, Analog Devices (ADI) shares are seen swinging up to 6% in either direction by the end of the week. A move of that size from Tuesday’s close could lift the shares to $398, or drag them down to $355, giving up some of their gains this year.

Though the stock has pulled back from its June highs, Analog Devices shares are up nearly 40% since the start of the year. The analog chipmaker, which services a wide range of industries from healthcare to defense, has seen growing industrial sales related to AI infrastructure, as well as share gains in advanced driver assistance systems and battery management systems.

Why This Matters to Investors
The results from Analog Devices could offer more insights into demand for analog chips across a broad swath of industries.

UBS analysts said they see a “white hot” data center industry and improving demand for automotive chips likely boosting Analog’s revenue above its typical seasonal trends for “at least the next 4 quarters.”2

Analog Devices is projected to report $3.92 billion in revenue for its fiscal third quarter, up 36% year-over-year. The chipmaker’s adjusted earnings per share are expected to have risen to $3.34 from $2.05 the same time a year ago, according to Visible Alpha estimates.

Analysts are broadly bullish on Analog Devices, with six of the seven analysts tracked by Visible Alpha calling the chipmaker a “buy,” while one holds a neutral rating. Their mean target of $456 would suggest more than 20% upside from Tuesday’s close.

Do you have a news tip for Investopedia reporters? Please email us at

[email protected]

Buckland Partners Management Co LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,927 shares of the semiconductor company’s stock, valued at approximately $4,737,000. Analog Devices accounts for 2.3% of Buckland Partners Management Co LLC’s holdings, making the stock its 8th biggest position.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Analog Devices during the 2nd quarter valued at about $18,610,868,000. Norges Bank bought a new position in Analog Devices in the 4th quarter worth about $2,215,516,000. Bank of New York Mellon Corp bought a new position in Analog Devices in the 2nd quarter worth about $1,326,066,000. Bank of America Corp DE increased its position in shares of Analog Devices by 42.8% during the fourth quarter. Bank of America Corp DE now owns 9,715,095 shares of the semiconductor company’s stock worth $2,634,734,000 after acquiring an additional 2,912,666 shares during the period. Finally, Amundi raised its stake in shares of Analog Devices by 44.8% during the third quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock valued at $1,507,740,000 after acquiring an additional 1,922,302 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth ADI has been the subject of a number of research reports. TD Cowen boosted their price target on Analog Devices from $450.00 to $460.00 and gave the company a “buy” rating in a report on Monday, July 13th. KeyCorp increased their price target on Analog Devices from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Argus set a $460.00 price target on Analog Devices in a research note on Tuesday, May 26th. Evercore reiterated an “outperform” rating and set a $474.00 target price on shares of Analog Devices in a report on Thursday, May 21st. Finally, Bank of America raised their target price on shares of Analog Devices from $425.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $441.00.

Check Out Our Latest Report on Analog Devices Insiders Place Their Bets In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $363.00, for a total value of $3,630,000.00. Following the completion of the sale, the chief executive officer owned 137,538 shares of the company’s stock, valued at $49,926,294. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $377.37, for a total value of $534,355.92. Following the transaction, the director owned 114,511 shares in the company, valued at approximately $43,213,016.07. This trade represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,274 shares of company stock worth $42,247,986 over the last quarter. Company insiders own 0.36% of the company’s stock.

Analog Devices Price Performance ADI opened at $390.28 on Tuesday. The firm has a market capitalization of $190.10 billion, a PE ratio of 57.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 1.34. The business’s 50-day moving average is $390.93 and its two-hundred day moving average is $369.88. Analog Devices, Inc. has a 1 year low of $223.47 and a 1 year high of $445.91.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Analog Devices had a net margin of 26.01% and a return on equity of 14.37%. The company’s revenue was up 37.2% compared to the same quarter last year. During the same period last year, the business earned $1.85 EPS. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. Research analysts anticipate that Analog Devices, Inc. will post 12.42 earnings per share for the current fiscal year.

About Analog Devices (Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

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Focus Partners Advisor Solutions LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,450 shares of the semiconductor company’s stock, valued at approximately $973,000.

Several other institutional investors also recently bought and sold shares of ADI. Banque Transatlantique SA purchased a new stake in Analog Devices during the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. purchased a new position in Analog Devices in the 2nd quarter valued at approximately $25,000. Hilton Head Capital Partners LLC purchased a new position in Analog Devices in the 4th quarter valued at approximately $26,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Analog Devices in the fourth quarter worth $27,000. Finally, Evolution Wealth Management Inc. acquired a new position in shares of Analog Devices in the first quarter worth $30,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices News Roundup Here are the key news stories impacting Analog Devices this week:

Positive Sentiment: Analysts expect approximately $3.33 in earnings per share on $3.93 billion in revenue for the quarter ended July 2026. Coverage also points to a potential earnings beat, supported by broad-based demand and AI-driven growth in the Communications segment. KeyBanc reiterated an Overweight rating with a $525 price target. How To Earn $500 a Month From Analog Devices Stock Ahead of Q3 Earnings Positive Sentiment: Investors continue to view ADI’s industrial and data-center exposure, strong margins, and artificial-intelligence opportunities as potential justifications for its elevated valuation. The company’s prior quarter also showed strong momentum, with revenue rising 37.2% year over year and EPS exceeding estimates. Should Investors Buy ADI Stock Despite its Premium Valuation? Neutral Sentiment: Pre-earnings analysis is encouraging investors to look beyond revenue and EPS toward operating metrics and segment trends. The upcoming report is therefore likely to be a near-term catalyst, with the stock’s reaction depending heavily on guidance and evidence that demand remains broad based. Should You Buy, Sell or Hold ADI Stock Before Q3 Earnings? Negative Sentiment: ADI trades at a premium multiple, leaving limited room for execution issues or cautious guidance. Analysts also flag possible near-term volatility, while broader semiconductor flows and warnings that the chip cycle may be approaching a peak could weigh on sentiment across the sector. Semiconductor Flows Stay Sticky in Leveraged Chip ETFs Insiders Place Their Bets In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,630,000.00. Following the completion of the sale, the chief executive officer owned 137,538 shares in the company, valued at $49,926,294. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $377.37, for a total value of $534,355.92. Following the completion of the transaction, the director directly owned 114,511 shares of the company’s stock, valued at $43,213,016.07. This trade represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,274 shares of company stock worth $42,247,986 over the last 90 days. Insiders own 0.36% of the company’s stock. Analog Devices Price Performance Analog Devices stock opened at $389.39 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $391.20 and a 200-day simple moving average of $369.27. The stock has a market cap of $189.67 billion, a P/E ratio of 57.86, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. Analog Devices, Inc. has a 12-month low of $223.47 and a 12-month high of $445.91.

Analog Devices (NASDAQ:ADI – Get Free Report) last posted its earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.89 by $0.20. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. Analog Devices’s revenue for the quarter was up 37.2% compared to the same quarter last year. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. Equities analysts expect that Analog Devices, Inc. will post 12.42 EPS for the current fiscal year.

Analog Devices Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were issued a $1.10 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Analog Devices’s dividend payout ratio is presently 65.38%.

Wall Street Analysts Forecast Growth Several analysts have recently issued reports on ADI shares. TD Cowen increased their price objective on Analog Devices from $450.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, July 13th. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 target price on shares of Analog Devices in a research note on Wednesday, May 20th. Wells Fargo & Company upped their price target on Analog Devices from $470.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Barclays increased their price target on Analog Devices from $430.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $441.00.

View Our Latest Stock Report on ADI

Analog Devices Profile (Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

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ADI Global Distribution reported its first quarterly results post-spin-off from Resideo. Second quarter sales grew nearly 1% to $1.29 billion, decelerating from earlier 4% first-half growth. GAAP operating income dropped to $25 million, impacted by $50 million in transaction, restructuring, and amortization charges.