Analog Devices Inc (NASDAQ:ADI) reported better-than-expected first-quarter financial results and issued second-quarter EPS guidance above estimates on Wednesday.
Analog Devices reported quarterly earnings of $2.46 per share which beat the analyst consensus estimate of $2.31 per share. The company reported quarterly sales of $3.160 billion which beat the analyst consensus estimate of $3.117 billion.
Analog Devices expects fiscal second-quarter 2026 revenue of $3.40 billion-$3.60 billion, above the analyst consensus estimate of $3.23 billion. The company projects quarterly adjusted EPS of $2.73-$3.03 above the analyst consensus estimate of $2.46.
“ADI’s robust first quarter built upon the strong position and momentum with which we entered the year,” said Vincent Roche, CEO and Chair. “Our success continues to be the result of relentless innovation to solve our customers toughest problems and deliver enduring business impact. Our investments in R&D and the customer experience from design to delivery continue to position us to create outstanding value for shareholders and customers alike.”
Analog Devices shares rose 0.8% to trade at $349.05 on Thursday.
These analysts made changes to their price targets on Analog Devices following earnings announcement.
- Susquehanna analyst Christopher Rolland maintained Analog Devices with a Positive and raised the price target from $360 to $400.
- Evercore ISI Group analyst Mark Lipacis maintained the stock with an Outperform rating and raised the price target from $282 to $387.
- Keybanc analyst John Vinh maintained Analog Devices with an Overweight rating and raised the price target from $375 to $430.
Considering buying ADI stock? Here’s what analysts think:
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