ADI
Analog Devices, Inc.

Analog Devices, Inc.ADI

Technology · Semiconductors
390.37USD
+1.92%
Sep 23, 2026
ADI overview ready
Key supplier of analog and mixed-signal building blocks for industrial automation
ADI is a diversified analog and mixed-signal semiconductor supplier whose industrial portfolio provides the sensing, data-conversion, signal-chain, connectivity, isolation, power-management and motion-control building blocks embedded in automation equipment and robotics.
Narrative is still early
Exposed to the Industrial Automation and Physical AI narrative through Industrial Automation Sensing, Motion and Edge Connectivity — component supplier.
An early price trend
Longer-term context reads mature trend, with a near-term setup of daily advance.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
Cyclical semiconductor demand fluctuations.
Market Sep 22Filing Aug 1Price action Sep 22Research Aug 28

Conviction Level

NarrativeHeat7.7ThemeHeat6.6PriceAction8.9Valuation2.6CompanyPosition7.3
Price
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Price Action

An early price trend
Longer-term context reads mature trend, with a near-term setup of daily advance.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$189.2B
Avg Volume (60D)
3.8M
60 sessions
Revenue Growth YoY
+16.9%
FY2025 vs FY2024
Gross Margin
+65.8%
Trailing twelve months
Operating Margin
+35.5%
Trailing twelve months
Free Cash Flow Yield
+2.6%
Distance from 200DMA
+10.6%
Next Earnings
2026-11-24
P/E
45.7x
EV / Sales
14.0x
Market metrics as of Sep 22, 2026
Financial results for the period ended Aug 1, 2026
Filed balance-sheet data as of Aug 1, 2026

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
Analog Devices, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at a 2.6% free-cash-flow yield and 14.0x revenue, which require sustained delivery to be justified.

Company Research

Thesis
ADI is a diversified analog and mixed-signal semiconductor supplier whose industrial portfolio provides the sensing, data-conversion, signal-chain, connectivity, isolation, power-management and motion-control building blocks embedded in automation equipment and robotics.
Opportunity
Moderate opportunity
Factory-automation, robotics and autonomous-equipment spending that requires precision sensing, motor and motion control, deterministic connectivity, isolation, power management and local signal processing at the physical edge.
Key risk
Cyclical semiconductor demand fluctuations.

Narrative & Theme

Industrial Automation and Physical AI
Part of Industrial Automation Sensing, Motion and Edge Connectivity, with moderate fit.
ADI has meaningful, direct revenue exposure to the physical-electronics content required for factory automation, robotics and intelligent edge equipment, rather than merely benefiting from general AI enthusiasm.
Narrative HeatHeating up7.7 / 10
Theme HeatNeutral6.6 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Semiconductors
What they do

Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits, software, and subsystems that convert and manage analog and digital signals for various applications globally.

How it earns

The company generates revenue primarily through transactional sales of semiconductor products and related software solutions.

Products & services
Data converter integrated circuits
Power management and reference products
Customers & end markets
Automotive
Communications
Industrial
Consumer electronics
Market position

Analog Devices is a leader in analog and mixed-signal semiconductor solutions with a strong market position.

Demand drivers
Medium cyclicality

Semiconductor demand is influenced by broader technology cycles and end-market capital expenditures.

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