Analog Devices, Inc.
- Open
- 355.54
- Day high
- 360.77
- Day low
- 352.03
- Prev close
- 354.52
- Volume
- 3.1M
- Mkt cap
- $172.4B
- P/E (TTM)
- 42.0
- EPS (TTM)
- $8.47
- P/B
- 5.1
- P/S
- 12.4
- Yield
- 1.21%
- Per share
- $4.29
- ▼Insiders net selling -$12.7M over the last 3 months (0 open-market buys, 71 sales)
- 🏛Institutions accumulating (13F)
Analog Devices, Inc. (ADI) is a Technology company listed on NASDAQ. The stock is up 46% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 71 sales (SEC Form 4). Drillr has 2 published research articles covering ADI.
Analog Devices, Inc. (ADI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ADI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 19, 2026 | $3.33 | $3.45 | +3.5% | $4.0B | +2.9% |
| May 20, 2026 | $2.88 | $3.09 | +7.2% | $3.6B | +3.4% |
| Feb 18, 2026 | $2.30 | $2.46 | +6.8% | $3.2B | +1.8% |
| Nov 25, 2025 | $2.23 | $2.26 | +1.3% | $3.1B | +3.1% |
| Aug 20, 2025 | $1.94 | $2.05 | +5.7% | $2.9B | +5.2% |
| May 22, 2025 | $1.69 | $1.85 | +9.8% | $2.6B | +6.7% |
| Feb 19, 2025 | $1.53 | $1.63 | +6.5% | $2.4B | +3.6% |
| Nov 26, 2024 | $1.63 | $1.67 | +2.3% | $2.4B | +2.3% |
| Aug 21, 2024 | $1.51 | $1.58 | +4.3% | $2.3B | +1.1% |
| May 22, 2024 | $1.28 | $1.40 | +9.0% | $2.2B | +0.4% |
| Feb 21, 2024 | $1.73 | $1.73 | -0.2% | $2.5B | -1.0% |
| Nov 21, 2023 | $2.04 | $2.01 | -1.4% | $2.7B | -1.5% |
ADI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 28, 2026 | Golz Karendirector | Sell | 1,000 | $374.50 |
| Aug 27, 2026 | Puccio Richard C Jrofficer: EVP and CFO | Sell | 2,683 | $374.56 |
| Aug 19, 2026 | Nakamura Katsufumiofficer: SVP, Chief Customer Officer | Tax | 202 | $390.28 |
| Aug 19, 2026 | Sondel Michaelofficer: CAO (principal acct. officer) | Tax | 237 | $390.28 |
| Aug 19, 2026 | ROCHE VINCENTdirector, officer: Chair & CEO | Tax | 2,878 | $390.28 |
| Aug 19, 2026 | Jain Vivekofficer: EVP, Global Operations | Tax | 1,111 | $390.28 |
| Aug 19, 2026 | Cotter Martinofficer: SVP, Vertical Business Units | Tax | 705 | $390.28 |
| Aug 19, 2026 | Puccio Richard C Jrofficer: EVP and CFO | Tax | 1,108 | $390.28 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 116 | $380.71 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 76 | $372.90 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 248 | $380.74 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 100 | $381.80 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 86 | $381.97 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 37 | $370.95 |
| Aug 6, 2026 | STATA RAYdirector | Sell | 134 | $378.69 |
Source: ADI SEC Form 4 filings, latest Aug 28, 2026. For informational purposes only — not investment advice.
See the full ADI insider & 13F page →ADI research & analysis
[ADI] Analog Devices Thesis 2026: Industrial Inventory Reset Tests Automotive Mix Recovery
Analog Devices Inc. FY2025 revenue ~$10.0-10.5B (+5-10%) with adj. EPS ~$7.20-7.60 reflecting continued post-2023-2024 industrial inventory destock recovery (selected ~$3-4B revenue impact peak FY2024 industrial weakness; selected stabilization beginning FY2025) + selected automotive cycle recovery + selected ~$22B Maxim Integrated August 2021 acquisition synergies completion + selected operational excellence under continued CEO Vincent Roche. Leading global analog + mixed-signal semiconductor manufacturer; founded 1965 by Ray Stata + Matthew Lorber in Cambridge Massachusetts originally as Analog Devices manufacturing operational amplifier modules (later transformed to analog + mixed-signal IC manufacturer; IPO 1969); headquartered in Wilmington Massachusetts; ~24,000+ employees across selected ~30+ countries; fiscal year ends ~October. 4 end-market segments: Industrial 52% ($5.2B — factory automation selected PLCs + selected motor control + instrumentation oscilloscopes + healthcare medical imaging + aerospace + defense RF + selected mil-aero; selected post-2023-2024 destock recovery; ~30%+ segment operating margin) + Automotive 25% ($2.5B — battery management systems EV BMS + infotainment + gigabit ethernet + ADAS sensors; selected EV/ADAS content per vehicle uplift ~$50-100 ICE → ~$300-500 EV) + Communications 12% ($1.2B — 5G base station + wireline + optical + datacenter + wireless infrastructure) + Consumer 11% ($1.1B — smartphones MEMS + wearables + gaming + hearing aids). CEO Vincent Roche since May 21, 2013 (succeeded Jerald Fishman CEO 1996-March 2013 who passed away suddenly March 2013 from heart attack; Roche ex-Analog Devices President 2012-2013 + ex-Industrial Group President + ~30+ year career joined 1988 as field applications engineer; Irish national; University of Limerick). Disciplined M&A engine: 2014 Hittite Microwave $2.45B + March 2017 Linear Technology $14.8B (transformational power management; selected #1 high-performance analog post-Linear) + August 26, 2021 Maxim Integrated $22B all-stock (transformational; ~$400M+ annual revenue synergies + $275M+ cost synergies = ~$675M run-rate; selected #1 high-performance analog scale post-Maxim). FY2024 industrial inventory destock peak (~$3-4B revenue impact); FY2025 recovery beginning. Capital return: dividend $3.84-4.00/share annual (~22 consecutive year increases approaching Aristocrat 25) + buybacks $2-4B (selected aggressive ~1-3%/yr share count reduction); investment-grade A2/A credit rating; net debt $5-6B (selected post-Maxim deleveraging). FY2026 thesis: industrial inventory reset + automotive cycle recovery + Maxim synergies + capital return. Risks: industrial cycle severity, automotive cycle, competitive intensity (TXN + STM + IFX + NXP), tariff/trade exposure.
Can Texas Instruments' $5.2B Guidance Lift Analog Peers Trading at 2023 Trough Multiples?
Texas Instruments' Q2 guidance of $5.2B (11% above consensus) confirms industrial demand recovery, but Analog Devices and ON Semiconductor trade at 18-19x forward—400-500bp below TXN—despite identical end-market exposure. Long ADI and ON over 90 days targets 5-8% outperformance as Q2 results validate the turn.
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Analog Devices, Inc. company profile
Overview
Analog Devices, Inc. (NASDAQ:ADI) is a leading semiconductor company founded in 1965 and headquartered in Wilmington, Massachusetts. The company went public in 1980 and has grown to become a major player in the analog and mixed-signal semiconductor industry. ADI designs, manufactures, and markets integrated circuits that serve as the critical bridge between the physical world and digital systems, enabling everything from automotive safety systems to industrial automation and healthcare monitoring devices.
Business
Analog Devices operates in the semiconductor industry, specifically focusing on analog, mixed-signal, and digital signal processing technologies. The company's core business revolves around creating integrated circuits (ICs) that translate real-world analog signals into digital data and vice versa - essentially serving as the interface between physical phenomena and digital processing systems. The company's primary products include data converters, which are fundamental components that convert continuous analog signals (like temperature, pressure, or sound) into discrete digital values that computers can process, and then convert digital commands back into analog outputs that can control physical devices. ADI also produces power management solutions that regulate electrical power in electronic systems, high-performance amplifiers that condition and strengthen analog signals, and radio frequency (RF) and microwave components for wireless communications. Additionally, the company offers microelectromechanical systems (MEMS) technology, including accelerometers that detect motion and gyroscopes that sense rotation - components essential for automotive safety systems and consumer electronics. ADI's product portfolio extends to digital signal processors for high-speed calculations and specialized software tools that help engineers design and optimize their systems. The company's revenue is distributed across four main market segments: Industrial (approximately 44% of revenue), which includes factory automation, instrumentation, and energy systems; Automotive (around 30%), covering electric vehicle systems, safety technologies, and connectivity solutions; Communications (about 12%), serving cellular infrastructure and networking equipment; and Consumer (roughly 13%), encompassing personal electronics and entertainment devices.
Revenue model
Analog Devices generates revenue primarily through product sales of its semiconductor components and integrated circuits to original equipment manufacturers (OEMs), system integrators, and distributors. The company operates on a traditional manufacturing business model where it designs proprietary semiconductor solutions, manufactures them through a hybrid approach using both internal fabrication facilities and external foundry partners, and sells the finished products at prices that reflect their technical sophistication and performance advantages. The company's customers are predominantly B2B enterprises in industries such as automotive manufacturing, industrial equipment production, telecommunications infrastructure, and consumer electronics. Revenue is generated when these customers integrate ADI's components into their end products, whether that's a car manufacturer using ADI's battery management systems in electric vehicles or a medical device company incorporating ADI's precision amplifiers into diagnostic equipment. Several factors influence ADI's profit margins. Positive margin drivers include the company's focus on high-performance, differentiated products that command premium pricing, the increasing semiconductor content in modern applications (particularly in automotive and industrial automation), and operational leverage from higher production volumes. The company benefits from secular trends toward electrification, digitization, and automation across industries, which drive demand for more sophisticated analog solutions. Margin pressures can arise from cyclical downturns in end markets, competitive pricing pressure in commodity-like products, fluctuations in manufacturing costs, and the significant R&D investments required to maintain technological leadership. The company's hybrid manufacturing model, which combines internal fabs with foundry partnerships, provides flexibility but also exposes margins to external foundry pricing and capacity constraints. Currency fluctuations and geopolitical tensions affecting global supply chains can also impact profitability.
Risks & safety
ADI demonstrates a solid financial position with moderate margin of safety, though current valuation metrics suggest limited downside protection. **Liquidity and Solvency:** - Strong cash position of $2.4 billion with current ratio of 2.08 - Low debt-to-equity ratio of 0.21, indicating conservative capital structure - Robust free cash flow generation of $729 million quarterly, providing operational flexibility - No immediate solvency concerns with strong balance sheet **Valuation Metrics:** - High P/E ratio of 43.2x suggests premium valuation with limited margin of safety - EV/EBITDA of 38.1x indicates expensive valuation relative to earnings - Price-to-book ratio of 2.81x reflects market confidence but offers little downside protection - Graham number of $42.70 significantly below current price of $211.93 **Other Considerations:** - Cyclical nature of semiconductor industry creates earnings volatility risk - High valuation multiples leave little room for execution disappointments - Strong market position and cash generation provide some downside support
Recent development
Over the past few years, Analog Devices has pursued several key strategic initiatives to position itself for long-term growth. The company has significantly expanded its software capabilities, launching the CodeFusion Studio development platform and introducing the ADI Assure Trusted Edge Security Architecture to make its solutions more accessible to customers and address growing cybersecurity concerns in connected devices. ADI has also invested heavily in a hybrid manufacturing strategy, expanding capacity in its U.S. and European fabrication facilities while deepening partnerships with foundries like TSMC. This approach aims to provide supply chain resilience and flexibility while maintaining control over critical manufacturing processes. The company is targeting dual sourcing for 95% of its product chain by 2026-2027. The integration of the Maxim Integrated acquisition continues to be a major focus, with ADI targeting $1 billion in revenue synergies by 2027. This acquisition significantly expanded ADI's presence in automotive, industrial, and communications markets while adding complementary product lines and customer relationships. Strategically, ADI has aligned its investments around five key megatrends: autonomy (particularly in automotive and robotics), proactive healthcare, energy transition (including renewable energy and electric vehicles), immersive experiences, and AI-driven computing. The company has seen particular success in AI infrastructure applications, automotive electrification, surgical robotics, and aerospace/defense markets. Recent quarters have shown strong recovery momentum, with the company expecting to return to its long-term growth model of 7-10% annual revenue growth after experiencing cyclical headwinds in 2024.
ADI company profile · for informational purposes only — not investment advice.
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