Analog Devices, Inc. (NASDAQ:ADI) reported stronger-than-expected fiscal second-quarter 2026 results and announced a $1.5 billion acquisition of Empower Semiconductor on Wednesday.
ADI reported second-quarter revenue of $3.62 billion, up 37% from a year earlier and above the analyst consensus estimate of $3.51 billion. Adjusted earnings came in at $3.09 per share, topping Wall Street estimates of $2.90 per share.
For the fiscal third quarter, ADI forecast revenue of $3.80 billion to $4.00 billion, above analyst estimates of $3.62 billion. The company also projected adjusted earnings of $3.15 to $3.45 per share, ahead of the Street consensus estimate of $3.00 per share.
“ADI’s second quarter revenue and earnings were above the high end of our outlook, reflecting the combination of record demand and sharp operational discipline,” said Vincent Roche, CEO and Chair. “Our innovation-led value creation strategy targets our customers’ most complex and consequential challenges with a goal of delivering substantial and sustained business impact. We continue to invest to extend our technology performance leadership and enhance our long-term value for customers and shareholders alike.”
Analog Devices shares fell 3% to trade at $386.28 on Thursday.
These analysts made changes to their price targets on Analog Devices following earnings announcement.
- Needham analyst N. Quinn Bolton maintained the stock with a Buy and raised the price target from $400 to $440.
- Baird analyst Tristan Gerra maintained the stock with an Outperform rating and boosted the price target from $365 to $450.
- B of A Securities analyst Vivek Arya maintained the stock with a Buy and raised the price target from $425 to $460.
- Jefferies analyst Blayne Curtis maintained Analog Devices with a Buy and raised the price target from $410 to $475.
- TD Cowen analyst Joshua Buchalter maintained the stock with a Buy and increased the price target from $400 to $450.
Considering buying ADI stock? Here’s what analysts think:
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