Analog Devices (ADI) is trading up at $397.05 (+0.68%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Information Technology sector.
One firm's current price target on Analog Devices: $550 — 39% above the current $397. Each is tracked to its date and scored the same way a member's call is.
Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.
| FY2016Oct 2016 | FY2017Oct 2017 | FY2018Nov 2018 | FY2019Nov 2019 | FY2020Oct 2020 | FY2021Oct 2021 | FY2022Oct 2022 | FY2023Oct 2023 | FY2024Nov 2024 | FY2025Nov 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $3.42B | $5.25B | $6.22B | $5.99B | $5.60B | $7.32B | $12.0B | $12.3B | $9.43B | $11.0B |
| Growth (year over year) | −0.4% | +53.3% | +18.6% | −3.8% | −6.5% | +30.6% | +64.2% | +2.4% | −23.4% | +16.9% |
| Gross profit | $2.23B | $3.17B | $4.25B | $4.01B | $3.69B | $4.53B | $7.53B | $7.88B | $5.38B | $6.77B |
| Gross margin | 65.1% | 60.4% | 68.3% | 67.0% | 65.9% | 61.8% | 62.7% | 64.0% | 57.1% | 61.5% |
| Operating income | $1.03B | $1.16B | $1.90B | $1.71B | $1.50B | $1.69B | $3.28B | $3.82B | $2.03B | $2.93B |
| Operating margin | 30.0% | 22.2% | 30.5% | 28.6% | 26.7% | 23.1% | 27.3% | 31.1% | 21.6% | 26.6% |
| Net income | $861.7M | $805.4M | $1.51B | $1.36B | $1.22B | $1.39B | $2.75B | $3.31B | $1.64B | $2.27B |
| Net margin | 25.2% | 15.4% | 24.2% | 22.8% | 21.8% | 19.0% | 22.9% | 26.9% | 17.3% | 20.6% |
| EPS (diluted) | — | — | — | — | $3.28 | $3.46 | $5.25 | $6.55 | $3.28 | $4.56 |
| Balance sheet | ||||||||||
| Cash and equivalents | $921.1M | $1.05B | $816.6M | $648.3M | $1.06B | $1.98B | $1.47B | $958.1M | $1.99B | $2.50B |
| Total assets | $7.97B | $21.1B | $20.4B | $21.4B | $21.5B | $52.3B | $50.3B | $48.8B | $48.2B | $48.0B |
| Total liabilities | $2.80B | $11.0B | $9.17B | $9.68B | $9.47B | $14.3B | $13.8B | $13.2B | $13.1B | $14.2B |
| Long-term debt | — | — | — | — | — | $6.78B | $6.55B | $5.90B | $6.63B | $8.15B |
| Shareholders' equity | $5.17B | $10.2B | $11.3B | $11.7B | $12.0B | $38.0B | $36.5B | $35.6B | $35.2B | $33.8B |
| Cash flow | ||||||||||
| Operating cash flow | $1.29B | $1.15B | $2.44B | $2.25B | $2.01B | $2.74B | $4.48B | $4.82B | $3.85B | $4.81B |
| Capital expenditure | $127.4M | $204.1M | $254.9M | $275.4M | $165.7M | $343.7M | $699.3M | $1.26B | $730.5M | $533.6M |
| Free cash flow | $1.16B | $950.3M | $2.19B | $1.98B | $1.84B | $2.39B | $3.78B | $3.56B | $3.12B | $4.28B |
| Dividends paid | $513.2M | $602.1M | $703.3M | $777.5M | $886.2M | $1.11B | $1.54B | $1.68B | $1.80B | $1.92B |
| Share buybacks | $370.1M | $46.5M | $226.0M | $613.0M | $244.5M | $2.61B | $2.58B | $2.96B | $615.6M | $2.16B |
| Q4 FY24†Nov 2024 | Q1 FY25Feb 2025 | Q2 FY25May 2025 | Q3 FY25Aug 2025 | Q4 FY25†Nov 2025 | Q1 FY26Jan 2026 | Q2 FY26May 2026 | Q3 FY26Aug 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $2.44B | $2.42B | $2.64B | $2.88B | $3.08B | $3.16B | $3.62B | $4.02B |
| Growth (year over year) | −10.1% | −3.6% | +22.3% | +24.6% | +25.9% | +30.4% | +37.2% | +39.6% |
| Gross profit | $1.42B | $1.43B | $1.61B | $1.79B | $1.94B | $2.04B | $2.44B | $2.71B |
| Gross margin | 58.0% | 59.0% | 61.0% | 62.1% | 63.1% | 64.7% | 67.3% | 67.3% |
| Operating income | $569.4M | $491.3M | $677.9M | $818.0M | $945.2M | $997.0M | $1.38B | $1.61B |
| Operating margin | 23.3% | 20.3% | 25.7% | 28.4% | 30.7% | 31.5% | 38.1% | 40.1% |
| Net income | $478.1M | $391.3M | $569.8M | $518.5M | $787.7M | $830.8M | $1.18B | $1.34B |
| Net margin | 19.6% | 16.1% | 21.6% | 18.0% | 25.6% | 26.3% | 32.5% | 33.3% |
| EPS (diluted) | $0.95 | $0.78 | $1.14 | $1.04 | $1.60 | $1.69 | $2.40 | $2.74 |
| Balance sheet | ||||||||
| Cash and equivalents | $1.99B | $2.35B | $2.38B | $2.32B | $2.50B | $2.91B | $2.44B | $2.17B |
| Total assets | $48.2B | $48.0B | $47.3B | $48.2B | $48.0B | $48.0B | $47.9B | $48.4B |
| Total liabilities | $13.1B | $12.9B | $12.3B | $14.1B | $14.2B | $14.2B | $14.2B | $14.9B |
| Long-term debt | $6.63B | $6.62B | $6.65B | $8.14B | $8.15B | $7.24B | $7.24B | $6.77B |
| Shareholders' equity | $35.2B | $35.1B | $35.0B | $34.1B | $33.8B | $33.8B | $33.7B | $33.6B |
| Cash flow | ||||||||
| Operating cash flow | $1.05B | $1.13B | $819.5M | $1.17B | $1.70B | $1.37B | $872.0M | $1.60B |
| Capital expenditure | $165.4M | $149.0M | $90.3M | $79.2M | $215.2M | $109.3M | $137.7M | $145.7M |
| Free cash flow | $885.4M | $977.8M | $729.2M | $1.09B | $1.49B | $1.26B | $734.3M | $1.46B |
| Dividends paid | $456.8M | $456.3M | $491.0M | $490.2M | $486.9M | $484.3M | $536.5M | $535.3M |
| Share buybacks | $94.9M | $160.4M | $248.6M | $1.08B | $680.5M | $516.5M | $772.9M | $1.16B |
From Analog Devices's 10-K and 10-Q filings with the SEC; its fiscal year ends in November. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
Analog Devices's latest reported figures next to the median of the other 75 S&P 500 Information Technology companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.
| Measure | Analog Devices | Information Technology (75 other S&P 500 companies) | S&P 500 (502 other companies) |
|---|---|---|---|
| Revenue growth, latest fiscal year | +16.9% | +13.7% | +7.0% |
| Net margin, latest fiscal year | 20.6% | 16.5% | 12.9% |
| Dividend per share, latest fiscal year | $3.89 | $1.82 | $2.40 |
| Share price change, 1 year | +61.3% | +13.1% | +7.5% |
Analog Devices: fiscal year ended November 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Analog Devices included, are the last regular-session prices of October 20, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 75/496, net margin 75/496, dividend per share 35/349, 1-year price change 67/488; the reasons below can overlap. 14 are left out of the price figure because our archive holds no comparable close for them; dividend medians are among the 35 sector and 349 S&P 500 companies reporting a per-share dividend. The S&P 500 price figure is the middle company's change, not the index's return.
Analog Devices, Inc. (ADI), also known simply as Analog, is an American multinational semiconductor company specializing in data conversion, signal processing, and power management technology, headquartered in Wilmington, Massachusetts.
Source: Wikipedia — Analog Devices
Analog Devices, Inc. (ADI), incorporated in Massachusetts in 1965 and with its corporate headquarters in Wilmington, Massachusetts, describes itself in its annual report for fiscal 2025 (Form 10-K) as a global semiconductor leader dedicated to solving its customers' most complex engineering challenges. Its products are built on high-performance analog, mixed-signal and digital signal processing technologies, and its product categories include data converters, amplifiers, power management, radio frequency (RF) ICs, edge processors and other sensors. Its fiscal year is the 52-week or 53-week period ending on the Saturday closest to the last day in October: fiscal 2025, which ended November 1, 2025, was 52 weeks and fiscal 2024 was 53 weeks. It had approximately 24,500 employees as of November 1, 2025, of whom approximately 13,000 were in engineering roles (10-K). Its common stock is listed on the Nasdaq Global Select Market under the symbol ADI.
For fiscal 2025 the consolidated statements of income report revenue of $11,019,707 thousand, compared with $9,427,157 thousand in fiscal 2024, operating income of $2,932,496 thousand and net income of $2,267,342 thousand, or $4.56 per diluted share. The 10-K says revenue increased 17% in fiscal 2025 as compared to fiscal 2024. Net cash provided by operating activities was $4,812,202 thousand. At November 1, 2025 total assets were $47,992,712 thousand and total shareholders' equity was $33,815,755 thousand, and the 10-K says ADI had approximately $8.6 billion in outstanding indebtedness.
ADI reports one operating segment and one reportable segment (10-K, segment note). By end market, fiscal 2025 revenue was $4,929,409 thousand from industrial, $3,277,865 thousand from automotive, $1,434,568 thousand from consumer and $1,377,865 thousand from communications customers. Sales to distributors were $6,144,819 thousand, 56% of revenue. By region, revenue was $3,238,145 thousand from the United States and $2,858,286 thousand from China (10-K). It has internal production facilities in Wilmington, Massachusetts; Camas, Washington; Beaverton, Oregon; and Limerick, Ireland, and sources more than half of its wafer requirements from third-party foundries such as Taiwan Semiconductor Manufacturing Company (TSMC) (10-K).
According to its 10-Q for the quarter ended August 1, 2026 (unaudited), the third quarter of fiscal 2026, revenue was $4,021,899 thousand for the quarter and $10,805,627 thousand for the first nine months, and net income was $1,340,090 thousand for the quarter, or $2.74 per diluted share. On July 7, 2026 ADI completed the acquisition of Empower Semiconductor, Inc., a provider of integrated voltage regulators and power management solutions, for approximately $1.5 billion, and on July 2, 2026 it entered into a 364-day unsecured revolving credit facility of up to $3.0 billion, expiring July 1, 2027, in addition to its existing credit agreement (10-Q). In its August 19, 2026 press release ADI forecast fourth-quarter fiscal 2026 revenue of $4.3 billion, +/- $100 million, reported EPS of $3.14, +/- $0.15, and adjusted EPS of $3.86, +/- $0.15 (company projections; adjusted EPS is non-GAAP).
On September 9, 2026 ADI announced an agreement to acquire Alif Semiconductor, a maker of EdgeAI microcontrollers and fusion processors, for $1.35 billion of upfront consideration in cash plus up to $200 million of contingent consideration; it said the transaction is expected to close before the end of calendar year 2026 (Form 8-K). On September 17, 2026 it issued $500 million of 5.100% senior notes due 2029, $500 million of 5.350% senior notes due 2031, $1,000 million of 5.600% senior notes due 2033 and $1,000 million of 5.750% senior notes due 2036 (Form 8-K). Vincent Roche is CEO and Chair (August 19, 2026 press release), and Richard C. Puccio, Jr. is Executive Vice President and Chief Financial Officer (10-Q, Exhibit 31.2).
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| Fiscal year | Revenue (as reported in 10-K) | Reported as | Filed |
|---|---|---|---|
| 2021 | $7,318,286 thousand20 | Form 10-K for fiscal year 2021 (year ended October 30, 2021), revenue, in thousands as filed | Dec 3, 2021 |
| 2022 | $12,013,953 thousand21 | Form 10-K for fiscal year 2022 (year ended October 29, 2022), revenue, in thousands as filed | Nov 22, 2022 |
| 2023 | $12,305,539 thousand22 | Form 10-K for fiscal year 2023 (year ended October 28, 2023), revenue, in thousands as filed | Nov 21, 2023 |
| 2024 | $9,427,157 thousand23 | Form 10-K for fiscal year 2024 (year ended November 2, 2024), revenue, in thousands as filed | Nov 26, 2024 |
| 2025 | $11,019,707 thousand2 | Form 10-K for fiscal year 2025 (year ended November 1, 2025), revenue, in thousands as filed | Nov 25, 2025 |
Figures last checked against the sources above on . General information, not investment advice.