Analog Devices, Inc. (ADI) Stock Price & Analysis
Analog Devices, Inc. (ADI) closed at USD 385.76 on Thursday, October 22, 2026, down 4.98% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 405.96; the Oct 22, 2026 session ranged USD 385.31–399.48 on volume of 6,584,771 shares. Market capitalization is $186.93B, with a 52-week range of USD 223.47–445.91 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ADI.md
Key facts (ADI)
- Last four reported quarters (through Aug 1, 2026): revenue $13.9B, net income $4.14B (29.8% margin), free cash flow $4.94B (SEC filings).
- Valuation: P/E 45.2x (avg 49.5x at the last 3 fiscal year-ends), EV/EBITDA 36.0x, net debt $5.79B.
- 11 of 80 tracked superinvestors hold ADI (13F, Q2 2026): 2 new, 0 added, 9 reduced, 0 unchanged.
- Analysts: Buy (mean 1.94 on a 1–5 scale) (34 analysts), mean target USD 472.44 (range 365–675).
- Total return with dividends: 1Y +60.5% vs S&P 500 +14.9%; 5Y +135.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-24, EPS estimate USD 3.88, revenue estimate $4.32B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ADI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.32B | $12.0B | $12.3B | $9.43B | $11.0B | $13.9B |
| Gross profit | $4.53B | $7.53B | $7.88B | $5.38B | $6.77B | — |
| Operating income | $1.69B | $3.28B | $3.82B | $2.03B | $2.93B | $4.93B |
| Net income | $1.39B | $2.75B | $3.31B | $1.64B | $2.27B | $4.14B |
| EPS (diluted) | $3.46 | $5.25 | $6.55 | $3.28 | $4.56 | — |
| Free cash flow | $2.39B | $3.78B | $3.56B | $3.12B | $4.28B | $4.94B |
| Gross margin | 61.8% | 62.7% | 64.0% | 57.1% | 61.5% | — |
| Operating margin | 23.1% | 27.3% | 31.1% | 21.6% | 26.6% | 35.5% |
| Net margin | 19.0% | 22.9% | 26.9% | 17.3% | 20.6% | 29.8% |
| Revenue growth | +30.6% | +64.2% | +2.4% | -23.4% | +16.9% | — |
| Cash + short-term investments | $1.98B | $1.47B | $958M | $2.36B | $3.65B | — |
| Total debt | $7.29B | $6.58B | $6.40B | $7.03B | $8.15B | — |
Fiscal years end Nov. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Aug 1, 2026) (ADI)
P/E 45.2x · P/S 13.5x · EV/EBITDA 36.0x · EV/Sales 13.9x · P/FCF 37.9x · P/B 5.6x · FCF yield 2.64% · Earnings yield 2.21% · Dividend yield (paid, TTM) 1.09% · Buyback yield (TTM) 1.67% · Net debt $5.79B · EV $193B
P/E at fiscal year-ends: Nov 2025 58.1x, Nov 2024 66.5x, Oct 2023 24.0x.
Superinvestors (SEC 13F-HR, Q2 2026) (ADI)
11 of 80 tracked investors hold ADI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Pacific Advisors | 7.97% | $635M | Reduced -7.2% | |
| AKO Capital | 5.71% | $245M | Reduced -40.1% | |
| William Von Mueffling | Cantillon Capital Management | 5.26% | $35.0M | Reduced -95.4% |
| Thomas Gayner | Markel Group | 3.02% | $397M | Reduced -2.3% |
| Wallace Weitz | Weitz Investment Management | 2.34% | $33.8M | Reduced -19.9% |
| Francois Rochon | Giverny Capital | 1.25% | $37.1M | Reduced -45.5% |
| Sarah Ketterer | Causeway Capital Management | 0.61% | $56.4M | Reduced -29.6% |
| Lee Ainslie | Maverick Capital | 0.01% | $1.1M | New position |
| Glenn Greenberg | Brave Warrior Advisors | 0.01% | $243K | New position |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $7.6M | Reduced -4.0% |
| Mairs & Power | Mairs & Power Funds | <0.01% | $202K | Reduced -21.4% |
Analysts (ADI)
Consensus Buy (mean 1.94 on a 1–5 scale), 34 analysts; mean target USD 472.44 (low 365, high 675).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | TD Cowen | Target raised | Buy | $460 → $475 |
| 2026-09-08 | TD Cowen | Reiterated | Buy | $460 |
| 2026-08-24 | Baird | Target raised | Outperform | $450 → $675 |
| 2026-08-21 | BMO Capital | Initiated | Outperform | $430 |
| 2026-08-20 | JP Morgan | Target raised | Overweight | $450 → $500 |
| 2026-08-20 | Morgan Stanley | Target raised | Overweight | $428 → $458 |
| 2026-08-20 | Bernstein | Upgrade | Market Perform → Outperform | $430 → $465 |
| 2026-08-20 | Wells Fargo | Target lowered | Overweight | $515 → $500 |
| 2026-08-20 | TD Cowen | Reiterated | Buy | $460 |
| 2026-08-20 | Seaport Global | Upgrade | Neutral → Buy | $425 |
| 2026-08-20 | Needham | Target raised | Buy | $440 → $450 |
| 2026-08-17 | Cantor Fitzgerald | Reiterated | Overweight | $550 |
Total return (dividends reinvested) (ADI)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +60.5% | +135.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +60.8% | +18.6% |
| Volatility (annualized) | 36.2% | 31.3% |
| Max drawdown | -20.7% (Jun 2026→Jul 2026) | -30.8% (Feb 2025→Mar 2025) |
ADI revenue by region (fiscal year ended Nov 1, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Non Us | $7.78B | 70.6% | +18.1% |
| — China (part of Non Us) | $2.86B | 25.9% | +34.3% |
| — Europe (part of Non Us) | $2.29B | 20.7% | +8.3% |
| — Rest Of Asia (part of Non Us) | $1.49B | 13.5% | +23.7% |
| — Japan (part of Non Us) | $989.9M | 9.0% | -8.8% |
| — Rest Of North & South America (part of Non Us) | $162.5M | 1.5% | +160.7% |
| United States | $3.24B | 29.4% | +14.0% |
| Total revenue | $11.02B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
ADI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | TSMC (TSM) | “We currently source more than half of our wafer requirements annually from third-party wafer fabrication foundries, such as Taiwan Semiconductor Manufacturing Company (TSMC) and others, and the remainder is sourced internally.” |
Quoted from the company's 10-K filed Nov 25, 2025.
Companies that name ADI in their SEC reports
| Relationship to ADI | Company | Filing | Sentence |
|---|---|---|---|
| competitor | CIRRUS LOGIC, INC. (CRUS) | 10-K May 21, 2026 | “Our primary competitors include, but are not limited to, AKM Semiconductor Inc., Analog Devices Inc., QUALCOMM Incorporated, Realtek Semiconductor Corporation, Renesas Electronics Corporation, Shanghai Awinic Technology Co., Ltd., Shenzhen Goodix Technology Co, Ltd., Skyworks Solutions Inc., ST Microelectronics N.V., Synaptics Incorporated and Texas Instruments, Inc.” |
| customer | ASE Technology Holding Co., Ltd. (ASX) | 20-F Apr 1, 2026 | “For example, in 2023, we acquired HCC Group to expand our automotive wireless business, in 2024, we acquired Infineon Group's manufacturing subsidiaries in the Philippines and South Korea to expand power chip module packaging and testing and lead frame packaging, and in March 2026, the board of directors of ASE Malaysia resolved to acquire Analog Devices's manufacturing subsidiaries in Malaysia to enhance supply c…” |
| supplier | SYPRIS SOLUTIONS INC (SYPR) | 10-K Mar 26, 2026 | “Our customers include large aerospace and defense companies such as Northrop Grumman Corporation (Northrop Grumman), Lockheed Martin (Lockheed), L3Harris Technologies (L3Harris), Collins Aerospace Systems (RTX Corporation), BAE Systems (BAE) and Analog Devices, Inc. (ADI).” |
| competitor | MONOLITHIC POWER SYSTEMS, INC. (MPWR) | 10-K Feb 27, 2026 | “We consider our primary competitors to include Analog Devices, Infineon Technologies, NXP Semiconductors, ON Semiconductor, Power Integrations, Renesas Electronics, ROHM Semiconductor, Semtech, STMicroelectronics and Texas Instruments.” |
| partner | Xperi Inc. (XPER) | 10-K Feb 26, 2026 | “We have devoted significant time and resources to develop a broad range of solutions with key partners including Amlogic, Analog Devices, Cadence, Cirrus Logic, MediaTek, NXP, Qualcomm, Realtek, Synaptics, Texas Instruments, and others.” |
| competitor | NXP Semiconductors N.V. (NXPI) | 10-K Feb 19, 2026 | “Our primary key public competitors in alphabetical order include, but are not limited to, Analog Devices Inc., Broadcom Inc., Infineon Technologies AG, Microchip Technology Inc., Qualcomm Inc., Renesas Electronics Corp., STMicroelectronics NV and Texas Instruments Inc.” |
| competitor | ON SEMICONDUCTOR CORP (ON) | 10-K Feb 9, 2026 | “Competitors for certain of AMG's products and solutions include: Texas Instruments Incorporated, Analog Devices, Inc., Infineon, STMicroelectronics, Renesas Electronics Corporation, Monolithic Power Systems Inc. and NXP Semiconductors N.V.” |
| competitor | ADVANCED MICRO DEVICES INC (AMD) | 10-K Feb 4, 2026 | “We expect continued competition from our primary FPGA competitors such as Altera, Lattice Semiconductor Corporation and Microsemi Corporation, and from ASSP vendors such as Broadcom Corporation, Marvell Technology Group, Ltd., Analog Devices, Texas Instruments Incorporated, NXP Semiconductors N.V., Qualcomm Incorporated and NVIDIA.” |
| competitor | MAXLINEAR, INC (MXL) | 10-K Jan 29, 2026 | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
| competitor | MACOM Technology Solutions Holdings, Inc. (MTSI) | 10-K Nov 14, 2025 | “We primarily compete with Analog Devices, Inc. ("ADI"), Broadcom Inc. ("Broadcom"), Credo Technology Group Holding Ltd. ("Credo"), Marvell Technology Inc. ("Marvell"), MaxLinear Inc. ("MaxLinear"), Microchip Technology Incorporated ("Microchip"), NXP Semiconductors N.V. ("NXP"), Qorvo, Inc. ("Qorvo"), Semtech Corporation ("Semtech"), Skyworks Solutions, Inc. ("Skyworks") and Sumitomo Electric Device Innovations, I…” |
| competitor | SKYWORKS SOLUTIONS, INC. (SWKS) | 10-K Nov 7, 2025 | “Our competitors include Analog Devices, Broadcom, Cirrus Logic, Murata Manufacturing, NXP Semiconductors, Qorvo, Qualcomm, and Texas Instruments.” |
ADI customer concentration
In the period ended Nov 1, 2025, 2 direct customers each accounted for at least 10% (24%, 13%) of revenue, per the company's 10-K filed Nov 25, 2025. The company does not name them.
ADI company outlook (results filed Aug 19, 2026)
- “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.”
- “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.”
Analysts expect $4.32B for the current quarter, 0.5% above the midpoint of the company's guidance ($4.30B).
Quoted word-for-word from the SEC 8-K results press release.
ADI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Oct 2026) | $3.88 | $3.54 | +9.8% | $4.32B | 26 |
| Next quarter (ends Jan 2027) | $3.81 | $3.46 | +10.0% | $4.31B | 26 |
| Current fiscal year (ends Oct 2026) | $12.88 | $12.43 | +3.6% | $15.13B | 29 |
| Next fiscal year (ends Oct 2027) | $16.50 | $15.06 | +9.5% | $18.39B | 30 |
ADI options: expected move
Options price a move of about ±11.4% (±$43.90) by Nov 27, 2026, which includes earnings on Nov 24, 2026; the earnings reaction alone is priced at about ±3.3%. Over the last 8 reports the stock moved ±5.6% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 50.6% | ±6.0% |
| Nov 6, 2026 | 14 | 47.4% | ±7.7% |
| Nov 13, 2026 | 21 | 45.3% | ±9.0% |
| Nov 20, 2026 | 28 | 44.4% | ±10.0% |
| Nov 27, 2026 | 35 | 45.5% | ±11.4% |
| Dec 4, 2026 | 42 | 44.6% | ±12.3% |
| Dec 18, 2026 | 56 | 43.9% | ±13.9% |
| Jan 15, 2027 | 84 | 41.9% | ±16.1% |
30-day implied volatility 44.2% vs 35.3% realized over the last 30 trading days. Put/call ratio (volume) 0.55. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 385.76 |
|---|---|
| Change | ▼ 4.98% (down) |
| Previous Close | USD 405.96 |
| Open | USD 398.02 |
| Day Range | USD 385.31 – 399.48 |
| 52-Week Range | USD 223.47 – 445.91 |
| Volume | 6,584,771 shares |
| Market Cap | $186.93B |
| Exchange | NMS |
Technical Analysis (ADI)
Nexqual's technical model rates ADI "NEUTRAL" based on 3 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 45.4 (neutral) |
| vs SMA50 | Above (USD 384.1) |
| MACD | 3.35 (positive) |
Analyst Ratings (ADI)
Wall Street analysts rate ADI "Buy" based on 34 analysts, with a mean price target of USD 472.44 (range USD 365–675), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 34 |
| Mean Target | USD 472.44 |
| High Target | USD 675 |
| Low Target | USD 365 |
| Buy / Hold / Sell | 30 / 4 / 0 |
Earnings (ADI)
| Next Earnings Date | 2026-11-24 |
|---|---|
| EPS Estimate | USD 3.88 |
| Revenue Estimate | $4.32B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-07-31 | USD 3.45 vs est 3.34 ▲ beat |
| 2026-04-30 | USD 3.09 vs est 2.91 ▲ beat |
| 2026-01-31 | USD 2.46 vs est 2.31 ▲ beat |
| 2025-10-31 | USD 2.26 vs est 2.23 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (ADI)
| Total Revenue | $13.88B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +39.60% |
| Gross Margin | +65.80% |
| Operating Margin | +39.50% |
| Profit Margin | +29.79% |
| ROE | +12.23% |
| Debt / Equity | 0.27 |
| Current Ratio | 1.25 |
| Total Cash | $2.32B |
| Total Debt | $9.16B |
| Free Cash Flow (last four quarters to Aug 2026, SEC 10-Q / 10-K) | $4.94B (35.6% of revenue) |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (ADI)
Nexqual rates Analog Devices, Inc.'s overall financial health "Strong" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Strong — Revenue +17% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 66%, operating 40% (last 12 months) |
| Balance Sheet | Strong — $2.32B cash and investments vs $8.12B debt (Aug 2026, SEC) |
| Cash Flow | Strong — FCF $4.94B (last 4 quarters to Aug 2026, SEC), 36% margin |
| Efficiency | Mixed — ROE 12%, ROA 6.4% |
Ownership (ADI)
| Insider Ownership | +0.23% |
|---|---|
| Institutional Ownership | +93.85% |
| Shares Outstanding | 484.57M |
| Float | 482.88M |
| Short % of Float | +2.29% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (ADI)
Analog Devices, Inc. is led by Vincent T. Roche, CEO & Chair of the Board of Directors, per Nexqual as of October 23, 2026 at 09:23 UTC.
| CEO & Chair of the Board of Directors | Vincent T. Roche |
|---|---|
| Co-Founder & Director | Raymond S. Stata |
| Chief Financial Officer | Richard C. Puccio |
| Chief Business Units Officer & EMEA President | Martin Cotter |
| Senior Director of Investor Relations | Jeff Ambrosi |
Major Backers & Investors (ADI)
Notable institutional backers of Analog Devices, Inc. include Invesco, JPMorgan, Bank of America Corporation, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Invesco | 3.51% |
| JPMorgan | 3.49% |
| Bank of America Corporation | 1.86% |
| Van Eck Associates Corporation | 1.74% |
| Morgan Stanley | 1.7% |
| VanEck ETF Trust-VanEck Semiconductor ETF | 1.57% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 9.67% |
| Vanguard Group | 9.59% |
| State Street | 4.88% |
| Geode Capital | 2.56% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From Analog Devices, Inc.'s Latest SEC 10-K Filing (filed 2025-11-25)
Key Strengths & Strategy (as disclosed to the SEC)
- Together, our products and our engineering talent enable us to partner with our customers, leveraging our analog domain expertise and the full breadth of our technology capabilities to develop complete and innovative solutions.
- We believe that our engineering talent continues to be an important competitive differentiator in the semiconductor space that will enable us to deepen our relationships with customers.
- MEMS technology enables us to build extremely small sensors that incorporate an electromechanical structure and the supporting analog circuitry for conditioning signals obtained from the sensing element.
- Our offerings in this space include: Consumer — To address the market demand for state of the art personal and professional entertainment systems and the consumer demand for high quality user interfaces, music, movies and photographs, we have developed analog, digital and mixed-signal and power solutions that meet the rigorous cost and time-to-market requirements of the consumer electronics market.
Partnerships
- To help achieve this, we collaborate with customers and partners on innovative solutions designed to achieve better outcomes for patients and more efficient workflows for physicians at reduced costs.
Legal & Regulatory Risks (Item 1A, quoted)
- Our products are complex and we may be subject to warranty, indemnity or product liability claims, which could result in significant costs and damage to our reputation and adversely affect customer relationships, the market acceptance of our products and our operating results.
- Risks Related to Cyber, Artificial Intelligence, Intellectual Property, Legal and Regulatory
- We are occasionally involved in litigation, administrative proceedings, and regulatory proceedings, which could be costly to resolve and could require us to redesign products, pay significant royalties or fines or refrain from engaging in specific conduct.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| QCOM | QUALCOMM Incorporated | USD 172.83 | ▼ 2.88% |
| MRVL | Marvell Technology, Inc. | USD 223.47 | ▼ 8.7% |
| ARM | Arm Holdings plc | USD 210.1 | ▼ 7.28% |
| TXN | Texas Instruments Incorporated | USD 279.5 | ▼ 1.81% |
| ASX | ASE Technology Holding Co., Ltd | USD 37.74 | ▼ 11.01% |
| INTC | Intel Corporation | USD 85.49 | ▼ 8.04% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt