Analog Devices, Inc.

NASDAQ Global Select
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Bullish +75

JPMorgan Raises its Price Target on Analog Devices (ADI)

AI-generated analysis

📈 JPMorgan raised its price target on Analog Devices (ADI) from $400 to $450 and maintained an Overweight rating.

💰 Raymond James increased its price target on ADI from $385 to $430 while keeping an Outperform rating.

📊 Analog Devices reported Q2 adjusted EPS of $3.09, surpassing the consensus estimate of $2.90.

💵 Revenue for the quarter totaled $3.62 billion, exceeding analyst expectations of $3.51 billion.

🤖 AI-driven data center demand is cited as a primary driver of accelerating communications revenue growth.

🔌 The acquisition of Empower Semiconductor expands ADI's exposure to AI and data center power applications.

👨‍💼 CEO Vincent Roche stated that second-quarter results reflected record demand and operational discipline.

🏆 JPMorgan designated Analog Devices as its top pick within the diversified semiconductor segment.

📅 The analyst upgrades occurred in late May 2026, shortly after ADI's Q2 earnings release.

🌐 Analog Devices designs, manufactures, tests, and markets integrated circuits and subsystems globally.

Bullish Signals
  • JPMorgan raised its price target on Analog Devices (ADI) to $450 from $400 and maintained an Overweight rating, citing a 'strong beat-and-raise' quarter.
  • Raymond James increased its price target on ADI to $430 from $385 with an Outperform rating, highlighting accelerating AI-driven data center demand.
  • Analog Devices reported Q2 adjusted EPS of $3.09, which exceeded the consensus estimate of $2.90, demonstrating strong earnings performance.
  • The company's revenue totaled $3.62B, surpassing the consensus estimate of $3.51B, reflecting record demand and operational discipline.
  • JPMorgan designated Analog Devices as its top pick in the diversified semiconductor segment due to broad-based strength.
  • Raymond James noted that the acquisition of Empower Semiconductor expands the company's AI and data center power exposure.
Risk Factors
  • Analysts at JPMorgan and Raymond James believe other AI stocks hold greater promise for delivering higher returns within a shorter time frame compared to ADI.
Full Analysis
JPMorgan raised its price target on Analog Devices (ADI) to $450 from $400 and maintained an Overweight rating, citing a "strong beat-and-raise" quarter driven by broad-based strength. The firm named ADI its top pick in the diversified semiconductor segment. This follows a similar move by Raymond James on May 21, which raised its price target to $430 from $385 and maintained an Outperform rating, noting accelerating AI-driven data center demand as a key revenue driver. Analog Devices reported Q2 adjusted EPS of $3.09, surpassing the consensus estimate of $2.90, with revenue totaling $3.62B against a consensus of $3.51B. CEO and Chair Vincent Roche stated that second-quarter results exceeded the high end of the company's outlook, reflecting record demand and operational discipline. The company designs, manufactures, tests, and markets integrated circuits, software, and subsystem products globally.