Analog Devices (NASDAQ:ADI) Updates Q4 2026 Earnings Guidance

Key Points

• Analog Devices raised its fourth-quarter fiscal 2026 guidance, projecting EPS of $3.71–$4.01 and revenue of $4.2–$4.4 billion—above analyst expectations of $3.53 EPS and $4.1 billion in revenue.
• The company’s recent results showed strong momentum, with fiscal third-quarter revenue rising 40% year over year to a record $4.02 billion and non-GAAP EPS of $3.45. Industrial and communications revenue grew 53% and 84%, respectively.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and average price target of $441, though ADI’s approximately 56 P/E ratio and significant insider selling may increase investor caution.

Analog Devices (NASDAQ:ADI - Get Free Report) issued an update on its fourth quarter 2026 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.710-4.010 for the period, compared to the consensus EPS estimate of 3.530. The company issued revenue guidance of $4.2 billion-$4.4 billion, compared to the consensus revenue estimate of $4.1 billion.

Analog Devices Stock Performance

NASDAQ ADI opened at $376.63 on Wednesday. Analog Devices has a fifty-two week low of $223.47 and a fifty-two week high of $445.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.75. The firm has a market capitalization of $183.45 billion, a P/E ratio of 55.96, a PEG ratio of 1.01 and a beta of 1.20. The stock has a 50-day simple moving average of $390.37 and a two-hundred day simple moving average of $370.30.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.Analog Devices's revenue for the quarter was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.85 earnings per share. On average, equities analysts forecast that Analog Devices will post 12.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ADI shares. Bank of America increased their price objective on Analog Devices from $425.00 to $460.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Fundamental Research set a $550.00 price target on shares of Analog Devices in a research note on Monday, June 29th. The Goldman Sachs Group restated a "buy" rating and set a $450.00 price target on shares of Analog Devices in a research note on Wednesday, May 20th. KeyCorp boosted their price objective on shares of Analog Devices from $500.00 to $525.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, Evercore reiterated an "outperform" rating and issued a $474.00 price target on shares of Analog Devices in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $441.00.

Insider Transactions at Analog Devices

In related news, Director Karen Golz sold 1,000 shares of the company's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $389.83, for a total transaction of $389,830.00. Following the completion of the sale, the director directly owned 11,019 shares of the company's stock, valued at approximately $4,295,536.77. This represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total value of $12,453,900.00. Following the completion of the transaction, the chief executive officer owned 137,538 shares of the company's stock, valued at approximately $57,096,149.94. This represents a 17.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 105,274 shares of company stock valued at $42,247,986. 0.36% of the stock is currently owned by company insiders.

Key Stories Impacting Analog Devices

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

• Positive Sentiment: ADI posted record fiscal third-quarter revenue of $4.02 billion, up 40% year over year, while non-GAAP EPS of $3.45 exceeded the consensus estimate by $0.11. Industrial revenue increased 53% and communications revenue climbed 84%, highlighting strong demand in key end markets. Analog Devices Non-GAAP EPS and Revenue Results
• Positive Sentiment: Management raised fourth-quarter guidance above Wall Street expectations, calling for EPS of $3.71–$4.01 versus a $3.53 consensus and revenue of $4.2–$4.4 billion versus $4.1 billion expected. The midpoint implies continued momentum into the next quarter.
• Positive Sentiment: Cash generation remains strong, with $5.5 billion of trailing-12-month operating cash flow and $4.9 billion of free cash flow. ADI returned approximately $1.7 billion to shareholders and declared a quarterly dividend of $1.10 per share. Analog Devices Fiscal Third Quarter 2026 Financial Results
• Neutral Sentiment: Analyst sentiment remains favorable: Cantor Fitzgerald reaffirmed an Overweight rating with a $550 price target, while the reported six-month median target is $460. These targets suggest analysts see additional upside, although they may not immediately affect trading.
• Negative Sentiment: ADI’s valuation remains demanding, with a P/E ratio near 56, leaving the stock vulnerable to profit-taking even after strong results. The shares also entered the report under pressure amid weakness in semiconductor and AI stocks, higher Treasury yields and concerns about rich technology valuations.
• Negative Sentiment: Reported insider activity has been heavily skewed toward selling: insiders made 81 sales and no purchases during the past six months. While such transactions may be routine, the pattern can add to investor caution.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC increased its stake in Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after buying an additional 529 shares during the period. Pinnacle Financial Partners Inc. grew its holdings in shares of Analog Devices by 16.8% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 19,574 shares of the semiconductor company's stock worth $4,809,000 after acquiring an additional 2,815 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Analog Devices by 36.0% during the second quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company's stock valued at $417,000 after buying an additional 464 shares in the last quarter. Wealth Watch Advisors INC boosted its stake in Analog Devices by 33.0% in the 4th quarter. Wealth Watch Advisors INC now owns 504 shares of the semiconductor company's stock worth $137,000 after purchasing an additional 125 shares during the period. Finally, Opal Capital LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at $183,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

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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