KeyCorp Has Positive Outlook for Analog Devices Q3 Earnings

Key Points

• KeyCorp raised its Q3 2026 EPS estimate for Analog Devices to $3.41 from $3.02, signaling improved earnings expectations ahead of the company’s upcoming results.
• The firm reaffirmed an Overweight rating and set a $525 price target, which is notably above the stock’s recent trading level and above the broader consensus target of $441.
• Analog Devices recently beat quarterly estimates with $3.09 EPS on $3.62 billion in revenue, and management has already guided Q3 2026 EPS to a range of 3.15 to 3.45.

Analog Devices, Inc. (NASDAQ:ADI - Free Report) - Equities research analysts at KeyCorp lifted their Q3 2026 EPS estimates for shares of Analog Devices in a research note issued on Monday, July 13th. KeyCorp analyst J. Vinh now expects that the semiconductor company will earn $3.41 per share for the quarter, up from their previous estimate of $3.02. KeyCorp currently has a "Overweight" rating and a $525.00 target price on the stock. The consensus estimate for Analog Devices' current full-year earnings is $12.41 per share. KeyCorp also issued estimates for Analog Devices' Q4 2026 earnings at $3.67 EPS, FY2026 earnings at $12.62 EPS, Q1 2027 earnings at $3.62 EPS, Q2 2027 earnings at $3.74 EPS, Q3 2027 earnings at $3.95 EPS, Q4 2027 earnings at $4.01 EPS and FY2027 earnings at $15.32 EPS.

Other equities research analysts have also recently issued reports about the company. Arete Research raised Analog Devices from a "neutral" rating to a "buy" rating and set a $389.00 price target for the company in a report on Monday, March 30th. Truist Financial increased their target price on Analog Devices from $364.00 to $405.00 and gave the stock a "hold" rating in a report on Wednesday, May 20th. Wolfe Research restated an "outperform" rating and issued a $475.00 target price on shares of Analog Devices in a research note on Thursday, May 21st. Argus set a $460.00 price target on Analog Devices in a report on Tuesday, May 26th. Finally, Jefferies Financial Group upped their price target 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. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $441.00.

Analog Devices Stock Performance

NASDAQ:ADI opened at $390.96 on Thursday. The stock has a market capitalization of $190.43 billion, a P/E ratio of 58.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. Analog Devices has a 1 year low of $218.37 and a 1 year high of $445.91. The firm has a 50 day moving average of $407.81 and a 200-day moving average of $356.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates 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 for the quarter was up 37.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently modified their holdings of ADI. GoalFusion Wealth Management LLC bought a new stake in shares of Analog Devices during the second quarter worth approximately $238,000. Tema ETFs LLC boosted its stake in Analog Devices by 9.5% in the second quarter. Tema ETFs LLC now owns 8,393 shares of the semiconductor company's stock valued at $3,333,000 after acquiring an additional 725 shares during the last quarter. Nolet Wealth Management LLC bought a new position in Analog Devices in the second quarter valued at approximately $224,000. Fiduciary Financial Group LLC acquired a new stake in Analog Devices during the 2nd quarter worth $250,000. Finally, Orrstown Financial Services Inc. bought a new stake in shares of Analog Devices during the 2nd quarter valued at $325,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Transactions at Analog Devices

In other news, Director Karen Golz sold 1,000 shares of the company's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $389.83, for a total transaction of $389,830.00. Following the transaction, the director owned 11,019 shares of the company's stock, valued at $4,295,536.77. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $377.01, for a total value of $533,846.16. Following the completion of the transaction, the director owned 117,343 shares in the company, valued at approximately $44,239,484.43. This represents a 1.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 103,858 shares of company stock worth $42,062,730. Insiders own 0.36% of the company's stock.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 2nd. Analog Devices's dividend payout ratio (DPR) is 65.38%.

Key Analog Devices News

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

• Positive Sentiment: KeyCorp lifted EPS forecasts for Analog Devices across several upcoming quarters and full years, signaling stronger expected earnings growth.
• Positive Sentiment: The firm reiterated its Overweight rating and $525 price target, reinforcing a bullish view on Analog Devices NASDAQ: ADI.
• Neutral Sentiment: Recent commentary also highlights ADI’s exposure to expanding AI, automotive, and industrial chip demand, but this is more of a longer-term support factor than a fresh catalyst.
• Neutral Sentiment: A director recently sold shares under a pre-arranged trading plan, which is worth noting but does not appear to signal a change in fundamentals.

About Analog Devices

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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