Analog Devices, Inc. (ADI) Stock Price & How to Invest

Analog Devices designs, manufactures, and markets integrated circuits, software, and subsystem products that convert real-world analog signals into digital data and back again. Its core product families include data converters, amplifiers, power management ICs, radio frequency and microwave chips, and MEMS-based sensors such as accelerometers and gyroscopes. ADI sells into four end markets: Industrial (the largest, roughly half of revenue), Automotive, Communications, and Consumer. Revenue is generated primarily through direct sales to original equipment manufacturers and through a global distribution network spanning North and South America, Europe, Japan, China, and the rest of Asia. The company's hybrid manufacturing model combines owned fabs with foundry partnerships, giving it flexibility in capacity and cost management.

Analog Devices was founded in 1965 and is headquartered in Wilmington, Massachusetts. Under CEO and Chair Vincent Roche, who has led the company since 2013, ADI executed three major acquisitions: Hittite Microwave in 2014, Linear Technology in 2017, and Maxim Integrated in 2022, the last of which was a roughly $21 billion all-stock deal that vaulted the company to the second-largest position in the global analog semiconductor market. Roche joined ADI in 1988 and has overseen revenue growth from roughly $2.7 billion in fiscal 2012 to over $11 billion in fiscal 2025. ADI has raised its quarterly dividend for 22 consecutive years, most recently to $1.10 per share in February 2026, and has committed to returning 100% of free cash flow to shareholders over the long term.

Fiscal 2026 has been a year of acceleration. Quarterly revenue rose from $3.16 billion in the January quarter to $3.62 billion in the April quarter and $4.02 billion in the July quarter, and adjusted EPS beat consensus each time, most recently $3.45 against $3.34. Trailing net income is about $4.1 billion, up from $2.27 billion for all of fiscal 2025. The shares closed at $408.17 on October 16, 2026, up about 49% year to date and 69% over a year, a little below a 52-week high of $445.91. The fiscal fourth-quarter report is scheduled for November 24, 2026, with analysts expecting adjusted EPS of about $3.85 on $4.29 billion of revenue.

Analog semiconductors are cyclical, and a slowdown in industrial capital spending or a prolonged pause in automotive orders can deflate revenue quickly, as seen during the fiscal 2024 trough. Part of the fiscal 2026 surge may reflect customers rebuilding inventory, which can reverse. China represents a meaningful share of automotive revenue, making geopolitical escalation or localization policies a specific exposure. After a 49% gain in 2026 the stock trades near 48x trailing GAAP earnings and about 25x forward estimates, so any disappointment in revenue growth or margin guidance could lead to a multiple compression that punishes shareholders even if the underlying business remains healthy. Insiders have sold shares in October 2026, as recorded in SEC filings. Additionally, Chinese domestic analog vendors such as SG Micro and Will Semi are intensifying price competition in mainstream segments within China, a market ADI cannot easily afford to cede.

32 analysts publish price targets on ADI, averaging $471.34 against a $395.44 price as of October 2026, or +19.2%. The published targets run from $365.00 to $675.00, a moderate spread, and the ratings split 30 buy, 4 hold, 0 sell. Over the last six months there have been 6 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full ADI forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Analog Devices, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Industrial Automation and the Intelligent Edge. Industrial is ADI's largest end market, representing close to half of annual revenue, and posted 34% year-over-year growth in fiscal Q4 2025. The most optimistic published target, $675.00, assumes this works close to its best case.

The case against. Analog semiconductors are cyclical, and a slowdown in industrial capital spending or a prolonged pause in automotive orders can deflate revenue quickly, as seen during the fiscal 2024 trough. The most pessimistic target, $365.00, is roughly what ADI is worth if this bites instead.

Read the full bull and bear case on ADI, including what would have to change to break either one. Walnut is not an investment adviser.

No. Analog Devices, Inc. (ADI) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Analog Devices, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$13.9 billion
• Revenue (Fiscal Q3 2026): ~$4.02 billion (up ~40% YoY)
• Net income (TTM): ~$4.1 billion (GAAP EPS ~$8.42)
• Gross / operating margin: ~66% / ~40%
• Free cash flow (TTM): ~$4.15 billion
• P/E (trailing / forward): ~48x / ~25x
• Dividend yield: ~1.1% ($4.40 annual)
• Market capitalization: ~$198 billion

At $408.17, ADI's trailing GAAP P/E of about 48x is inflated by Maxim-related amortization, while the forward P/E of roughly 25x rests on consensus fiscal 2027 EPS of about $16.43. The multiple has actually come down from earlier in 2026 because earnings grew faster than the share price. The November 24, 2026 report will show whether the fourth quarter meets the roughly $4.29 billion revenue estimate.

If you want ADI exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to ADI: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get ADI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (SOXX), which spreads the position across many companies. Or build it into a focused thematic portfolio, so ADI sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where ADI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

ADI is a high-margin analog semiconductor franchise whose cyclical recovery has turned into a strong upswing, with fiscal third-quarter 2026 revenue of $4.02 billion up about 40% year over year and free cash flow conversion among the best in the semiconductor sector. If you believe that the long-duration buildout of industrial automation, electric vehicles, and AI-driven infrastructure sustains demand for precision analog signal processing, the question becomes sizing and overlap with other semiconductor holdings, not timing; the risk is that analog is notoriously cyclical, and after a roughly 69% one-year gain the shares price in continued growth, so a pause in industrial capital expenditure or automotive order softness could pressure both results and the valuation.

Whether ADI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ADI a buy or a sell?, and where the stock could go from here in the ADI stock forecast.

For income investors, whether ADI pays a dividend and how the payout looks is covered in does ADI pay a dividend? And to weigh ADI against a peer, read the full side-by-side comparisons: ADI vs TXN and ADI vs STM.