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Analog Devices Inc (ADI)

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Upturn Advisory Summary
02/26/2026: ADI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $382.36
1 Year Target Price $382.36
| 16 | Strong Buy |
| 5 | Buy |
| 9 | Hold |
| 0 | Sell |
| 1 | Strong Sell |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 176.67B USD | Price to earnings Ratio 79.3 | 1Y Target Price 382.36 |
Price to earnings Ratio 79.3 | 1Y Target Price 382.36 | ||
Volume (30-day avg) 31 | Beta 1.03 | 52 Weeks Range 156.75 - 363.20 | Updated Date 02/26/2026 |
52 Weeks Range 156.75 - 363.20 | Updated Date 02/26/2026 | ||
Dividends yield (FY) 1.14% | Basic EPS (TTM) 4.55 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2026-02-18 | When Before Market | Estimate 2.31 | Actual 2.46 |
Profitability
Profit Margin 23.02% | Operating Margin (TTM) 33.07% |
Management Effectiveness
Return on Assets (TTM) 4.54% | Return on Equity (TTM) 7.86% |
Valuation
Trailing PE 79.3 | Forward PE 25.71 | Enterprise Value 124110186218 | Price to Sales(TTM) 15.03 |
Enterprise Value 124110186218 | Price to Sales(TTM) 15.03 | ||
Enterprise Value to Revenue 11.95 | Enterprise Value to EBITDA 26.53 | Shares Outstanding 488628595 | Shares Floating 486475914 |
Shares Outstanding 488628595 | Shares Floating 486475914 | ||
Percent Insiders 1.04 | Percent Institutions 93.29 |
Upturn AI SWOT
Analog Devices Inc

Company Overview
History and Background
Analog Devices Inc. (ADI) was founded in 1965 by Ray Stata and Matthew Lorber. Initially focused on operational amplifiers, the company evolved to become a global leader in the design and manufacture of analog, mixed-signal, and digital signal processing (DSP) integrated circuits. Key milestones include its IPO in 1971, the acquisition of Linear Technology in 2017, and the transformative acquisition of Maxim Integrated in 2021, significantly expanding its product portfolio and market reach.
Core Business Areas
- Industrial: ADI's industrial segment provides solutions for automation, process control, power management, and condition monitoring in various industries including manufacturing, robotics, and healthcare. Products include precision analog-to-digital converters (ADCs), digital-to-analog converters (DACs), signal conditioners, and microcontrollers.
- Communication: This segment serves the telecommunications and data center markets with high-performance signal processing solutions for wired and wireless communications. Offerings include RF components, high-speed data converters, and digital signal processors for base stations, network infrastructure, and optical modules.
- Automotive: ADI offers a broad portfolio for the automotive sector, encompassing powertrain, safety, infotainment, and advanced driver-assistance systems (ADAS). Key products include high-precision sensors, microcontrollers, power management ICs, and connectivity solutions.
- Consumer: ADI provides components for consumer electronics, including audio, power management, and sensing solutions for applications like smartphones, wearables, and home appliances. Products include audio codecs, power management ICs, and analog front-ends.
Leadership and Structure
Analog Devices Inc. is led by its executive management team, with Vincent Roche serving as President and CEO. The company operates with a matrix organizational structure, typically divided into business units aligned with its core market segments, supported by functional groups such as engineering, sales, marketing, and operations.
Top Products and Market Share
Key Offerings
- Description: Analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) are critical components that translate real-world analog signals into digital data and vice-versa. ADI is a market leader in these high-performance components, essential for applications requiring precise signal acquisition and reconstruction. Competitors include Texas Instruments, NXP Semiconductors, and Renesas Electronics. Specific market share data for individual product categories is not publicly disclosed, but ADI is a dominant player in the high-end segments.
- Product Name 1: High-Performance Converters (ADCs/DACs)
- Description: Digital Signal Processors (DSPs) and other specialized ICs designed for complex signal manipulation. These are used in a vast array of applications from audio processing in consumer devices to radar systems in automotive and defense. ADI's broad portfolio and established presence make it a strong competitor. Competitors include Texas Instruments and Qualcomm.
- Product Name 2: Signal Processing ICs
- Description: Integrated circuits that manage power distribution and efficiency within electronic systems. With the increasing demand for energy-efficient devices, these are crucial across all ADI segments. ADI offers a wide range of power management solutions. Competitors include Texas Instruments, Infineon Technologies, and ON Semiconductor.
- Product Name 3: Power Management ICs
- Description: These include operational amplifiers, instrumentation amplifiers, and various sensors that process and condition analog signals with high accuracy. These are foundational components in many electronic systems. Competitors include Texas Instruments, Microchip Technology, and STMicroelectronics.
- Product Name 4: Precision Analog Components (Amplifiers, Sensors)
Market Dynamics
Industry Overview
The semiconductor industry, particularly in the analog and mixed-signal space, is characterized by strong demand driven by trends like 5G deployment, IoT growth, automotive electrification and autonomy, and industrial automation. It is a highly competitive and capital-intensive industry with a cyclical nature, influenced by global economic conditions and supply chain dynamics.
Positioning
Analog Devices Inc. is a leading player in the analog and mixed-signal semiconductor market, known for its high-performance, high-quality products and broad technology portfolio. Its competitive advantages include deep application expertise, strong customer relationships, and a robust intellectual property portfolio, particularly enhanced by recent strategic acquisitions. ADI is well-positioned to capitalize on secular growth trends across its key end markets.
Total Addressable Market (TAM)
The global market for analog and mixed-signal semiconductors is substantial, estimated to be in the tens of billions of US dollars annually and projected to grow further. ADI operates within this large and expanding TAM, aiming to capture a significant share through its diversified product offerings and strategic focus on high-growth application areas.
Upturn SWOT Analysis
Strengths
- Strong market leadership in high-performance analog and mixed-signal ICs.
- Broad and diversified product portfolio serving multiple end markets.
- Significant technological expertise and R&D capabilities.
- History of successful strategic acquisitions (e.g., Linear Technology, Maxim Integrated).
- Strong customer relationships and deep application knowledge.
Weaknesses
- Reliance on key suppliers for raw materials and manufacturing capacity.
- Exposure to cyclicality in certain end markets.
- Integration challenges post-acquisitions.
- Intense competition from larger and more diversified semiconductor players.
Opportunities
- Growth in 5G infrastructure and devices.
- Increasing adoption of IoT devices across industries.
- Expansion in automotive electronics (EVs, ADAS, autonomous driving).
- Digital transformation in industrial automation and healthcare.
- Synergies and cross-selling opportunities from recent acquisitions.
Threats
- Global economic downturn impacting demand.
- Geopolitical tensions affecting supply chains and trade.
- Intensifying competition and price pressures.
- Rapid technological advancements requiring continuous innovation.
- Potential for supply chain disruptions (e.g., wafer fab capacity constraints).
Competitors and Market Share
Key Competitors
- Texas Instruments (TXN)
- NXP Semiconductors (NXPI)
- Infineon Technologies (IFX)
- Microchip Technology (MCHP)
- STMicroelectronics (STM)
Competitive Landscape
Analog Devices Inc. holds a strong competitive position due to its focus on high-performance, specialized analog and mixed-signal ICs. Its advantages lie in its deep application expertise, advanced technology, and comprehensive product portfolio, particularly after the Maxim Integrated acquisition. However, it faces intense competition from larger, diversified semiconductor companies that also offer a broad range of products, and from niche players with specialized solutions. Price competition and the pace of innovation are critical factors.
Major Acquisitions
Maxim Integrated
- Year: 2021
- Acquisition Price (USD millions): 21000
- Strategic Rationale: To significantly expand ADI's analog and mixed-signal portfolio, particularly in power management, data converters, and security products, creating a broader and more comprehensive offering for industrial, automotive, and data center markets. The acquisition aimed to accelerate growth and achieve significant synergies.
Linear Technology
- Year: 2017
- Acquisition Price (USD millions): 14500
- Strategic Rationale: To enhance ADI's position in high-performance analog, particularly in signal processing, data converters, and power management solutions. This acquisition strengthened ADI's offering for industrial, automotive, and communications applications, and brought a strong technological complement.
Growth Trajectory and Initiatives
Historical Growth: Analog Devices Inc. has a proven track record of consistent historical growth, fueled by organic innovation and strategic acquisitions. The company has demonstrated an ability to adapt to market shifts and capitalize on emerging technology trends.
Future Projections: Analyst projections for Analog Devices Inc. indicate continued revenue and earnings growth in the coming years, driven by secular tailwinds in its key markets. Specific growth rates are subject to market conditions and company execution, but the outlook is generally positive, supported by the integration of Maxim Integrated and ongoing product development.
Recent Initiatives: Recent strategic initiatives by ADI include the successful integration of Maxim Integrated, expanding its portfolio in areas like power management and data converters. The company continues to invest heavily in R&D to develop next-generation solutions for automotive, industrial, and communication markets, and is focused on expanding its presence in high-growth segments like electrification and digital healthcare.
Summary
Analog Devices Inc. is a remarkably strong company with a leading position in the critical analog and mixed-signal semiconductor market. Its robust financial performance, driven by strategic acquisitions and secular growth trends like 5G and automotive electrification, showcases its operational excellence. The company's diversified product portfolio and deep application expertise are significant assets. However, ADI must remain vigilant against intense competition and potential supply chain disruptions, continuously investing in innovation to maintain its technological edge.
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Sources and Disclaimers
Data Sources:
- Analog Devices Inc. Investor Relations
- Company Financial Reports (10-K, 10-Q)
- Industry Analyst Reports
- Financial News and Data Providers (e.g., Refinitiv, Bloomberg - data generalized)
Disclaimers:
This JSON output is for informational purposes only and does not constitute investment advice. Financial data is based on available public information and may be subject to approximations and estimations for illustrative purposes. Market share data is illustrative and generalized. Readers should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Analog Devices Inc
Exchange NASDAQ | Headquaters Wilmington, MA, United States | ||
IPO Launch date 1972-04-03 | CEO & Chair of the Board of Directors Mr. Vincent T. Roche | ||
Sector Technology | Industry Semiconductors | Full time employees 24500 | Website https://www.analog.com |
Full time employees 24500 | Website https://www.analog.com | ||
Analog Devices, Inc. engages in the design, manufacture, testing, and marketing of integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. It provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs. The company also offers amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure; and micro-electro-mechanical systems technology solutions, including accelerometers used to sense acceleration, gyroscopes for sense rotation, inertial measurement units to sense multiple degrees of freedom, and broadband switches for radio and instrument systems, as well as isolators. In addition, it provides digital signal processing and system products for numeric calculations. The company serves clients in the industrial, automotive, consumer, instrumentation, aerospace, defense and healthcare, and communications markets through a direct sales force, third-party distributors, and independent sales representatives, as well as online. The company was incorporated in 1965 and is headquartered in Wilmington, Massachusetts.

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