Analog Devices, Inc. (NASDAQ: ADI) heads into the final stretch of 2025 with its stock trading near recent highs and analysts actively revising forecasts. As of December 20, 2025 (markets closed for the weekend), ADI shares were around $274.44, following Friday’s close.
The past few days brought a cluster of fresh price-target hikes, new sell-side commentary on the AI infrastructure cycle, and new insider-trading filings—all against the backdrop of a strong fiscal Q4 report and an upbeat Q1 outlook that management says is supported by continued bookings strength and cyclical recovery. [1]
What’s happening with Analog Devices stock right now
Several Wall Street notes and filings are shaping the near-term narrative for Analog Devices stock:
- Cantor Fitzgerald raised its ADI price target to $350 from $300 and kept an Overweight rating, pointing to the early stages of the AI era supporting demand across the semiconductor value chain heading into 2026. [2]
- Bank of America raised its ADI price target to $320 from $290 and maintained a Buy rating, describing 2026 as a “midpoint” in a multi-year AI-driven upgrade cycle for traditional IT infrastructure. [3]
- Truist raised its price target to $291 from $258 while keeping a Hold rating, framing the move within longer-dated (2027) estimates and ongoing AI-infrastructure constraints like power availability and funding. [4]
- UBS raised its price target to $320 from $280 and reiterated a Buy rating. [5]
- Morgan Stanley nudged its target to $293 from $288, reiterating Overweight, and cited both cyclical and company-specific tailwinds plus ADI’s exposure to data center and AI trends. [6]
At the same time, investors are digesting insider selling disclosures from both an ADI senior executive and a longtime director, both filed via SEC Form 4. [7]
ADI stock forecast: where analyst price targets and ratings stand
One reason Analog Devices stock remains a constant feature in large-cap semiconductor conversations is that the Street’s forward view is still broadly constructive—though not unanimous.
A widely-circulated snapshot tied to Truist coverage lists an average one-year price target around $282.30 (with a wide range of outcomes) and projects annual revenue and non-GAAP EPS growth in forward models. [8]
Meanwhile, MarketBeat’s consensus-based roundup (reflecting a broad set of analysts) describes ADI as a “Moderate Buy” with a consensus target price around $287 and a mix of Buy and Hold ratings—illustrating that the stock is no longer “cheap” enough for everyone to pound the table, even as the cycle improves. [9]
How to interpret the spread (roughly $291 to $350 on the high end):
- The higher targets (e.g., $320–$350) tend to assume AI-related demand stays durable into 2026 and that analog and mixed-signal content continues rising across data center infrastructure and advanced industrial systems. [10]
- The more cautious stance (e.g., Hold at Truist even after a target hike) reflects the idea that even strong semiconductor themes can hit periods of volatility if AI ROI comes under scrutiny or if funding/power constraints slow deployments. [11]
Why Wall Street got more optimistic after earnings
The foundation under the latest round of ADI stock forecasts is the company’s most recent earnings cycle.
Fiscal Q4 beat and Q1 guidance above estimates
Reuters reported that Analog Devices:
- Beat Q4 expectations (revenue and adjusted EPS came in above estimates), and
- Guided Q1 revenue and adjusted profit above consensus, even while acknowledging macro uncertainty and tariff-related risks. [12]
Key figures reported by Reuters included:
- Q1 revenue forecast:$3.1B ± $100M
- Q1 adjusted EPS forecast:$2.29 ± $0.10 [13]
Analog Devices itself reiterated the same Q1 outlook in its results materials, including operating margin and EPS ranges. [14]
Segment momentum mattered—especially industrial
Reuters highlighted that ADI’s industrial segment (nearly half of sales) rose sharply year over year and that communications also beat expectations—important signals because ADI is often treated as a “read-through” on industrial electronics demand and broader analog recovery. [15]
The “estimate revision” argument: a key bullish catalyst for ADI stock
Beyond price targets, one of the most widely used momentum indicators on Wall Street is earnings estimate revisions—and ADI has been moving in the right direction there.
A Zacks note published via Nasdaq argued that ADI’s earnings outlook has improved meaningfully, citing upward revisions to consensus EPS for both the next quarter and the full year. In that commentary, Zacks referenced expectations such as:
- Current-quarter EPS estimate: about $2.25, and
- Full-year EPS estimate: about $9.74, with recent upward revisions over the prior month. [16]
Whether or not investors follow Zacks’ methodology, the broader point is important for SEO readers searching “Analog Devices stock forecast”: when multiple analysts push numbers higher at once, price targets often follow.
AI infrastructure is now part of the ADI story—here’s how analysts frame it
Analog Devices isn’t an “AI GPU” name, but analysts increasingly treat it as an AI infrastructure and edge-enablement play through:
- power management and signal-chain components,
- high-performance analog and mixed-signal solutions, and
- connectivity and instrumentation exposure that rides alongside data center buildouts.
Here are the most notable “AI framing” points in the latest coverage:
Bank of America: an 8–10 year upgrade cycle, with 2026 as a midpoint
BofA’s note (via TheFly) described 2026 as a midpoint in an 8–10 year journey to upgrade traditional IT systems for faster AI workloads—while warning that AI-linked stocks can remain choppy if markets scrutinize returns and hyperscaler cash flows. [17]
Truist: AI infrastructure is attractive, but constraints matter
Truist’s update acknowledged power and funding challenges for AI infrastructure, but still argued AI infrastructure semiconductor stocks can “remain cheap” relative to growth—despite keeping ADI at Hold while raising the price target. [18]
JPMorgan: ADI included among top 2026 picks, with specific AI revenue expectations
A MarketWatch summary of a JPMorgan “top picks” list included ADI and suggested ADI could generate $500–$600 million from AI tied to design wins, while also projecting strong data-center capex growth into 2026. [19]
Cantor Fitzgerald: SOX leadership thesis supports higher ADI target
Cantor’s TheFly note connected its ADI target hike to a broader stance that the semiconductor index is positioned to lead markets higher, supported by AI-era demand across compute, networking, memory, and equipment into 2026. [20]
Insider selling: what the latest SEC filings show for Analog Devices
Insider selling often shows up in “ADI stock news” feeds, but it’s not always a fundamental signal—context matters (sale size, pattern, and whether it’s under a trading plan).
SVP Martin Cotter sale (Form 4)
An SEC Form 4 shows Martin Cotter (SVP, Vertical Business Units) sold 5,000 shares on 12/17/2025 at about $271.19 per share (transaction code “S”). [21]
Director Ray Stata sales (Form 4, under a 10b5-1 plan)
A separate SEC Form 4 for Ray Stata (Director) shows multiple sales across 12/16/2025 and 12/17/2025, and the filing explicitly notes the transactions were pursuant to a 10b5-1 plan adopted earlier in 2025. [22]
Investor takeaway: 10b5-1 plan sales are often pre-scheduled, but they still add to the short-term narrative when the stock is near highs—especially as headlines travel quickly through Google Discover feeds.
Dividend and shareholder returns remain part of the ADI investment case
Analog Devices continues to be treated as a “quality semiconductor” holding partly because of its capital return profile.
A Nasdaq earnings/dividend recap noted the board declared a quarterly cash dividend of $0.99 per share, payable December 22, 2025, to shareholders of record as of December 8, 2025. [23]
(That matches the dividend references in other coverage and the company’s broader earnings materials.) [24]
The big-picture semiconductor backdrop: why it matters for ADI stock in 2026
Even for a company as end-market diversified as ADI, sector-level expectations can move the stock because large-cap semiconductors often trade on shared narratives (cycle recovery, AI capex, macro sensitivity).
One Reuters report citing SEMI projected global chipmaking equipment sales rising to $126 billion in 2026 (and higher in 2027), attributing much of the growth to AI-driven logic and memory demand. [25]
ADI isn’t a wafer fab equipment maker—but the same AI capex that boosts equipment demand can also lift the broader semiconductor complex, influencing sentiment and multiples for diversified names like Analog Devices.
Key risks for Analog Devices stock investors to watch
No “ADI stock forecast” is complete without the risk side—especially at a point when multiple firms are hiking targets:
- Macro and policy uncertainty: ADI management has acknowledged macro uncertainty, and Reuters flagged tariff-related uncertainty as part of the backdrop. [26]
- AI spending volatility: Several analyst notes explicitly warn that AI-linked stocks can remain “choppy” as markets reassess AI returns and hyperscaler cash flows. [27]
- Valuation risk: Some analyst frameworks anticipate multiple compression even if earnings grow (i.e., fundamentals improve but the stock’s valuation normalizes). [28]
- Cyclical whiplash in industrial/auto: ADI benefits from recovery, but these end markets can pause quickly if customers pull back.
Upcoming dates: what to watch after Dec. 20, 2025
- Dividend payment:Dec. 22, 2025 (payable date). [29]
- Next earnings: Several sources estimate ADI’s next report around Feb. 18, 2026, though publication timing can vary and the company may confirm later. [30]
Bottom line for ADI stock on December 20, 2025
As of Dec. 20, 2025, the story around Analog Devices (ADI) stock is less about a single headline and more about a stacking set of signals:
- Analysts are raising price targets—in some cases aggressively (up to $350)—as they tie ADI to AI infrastructure and cyclical recovery themes heading into 2026. [31]
- The company’s recent earnings and guidance helped validate that recovery narrative, particularly in industrial demand and bookings trends. [32]
- Insider sales are in the tape, but at least some are tied to prearranged trading plans, and the reported sizes are modest relative to ADI’s overall float and market cap. [33]
For investors finding this via Google News or Discover: the most actionable way to track the ADI thesis into early 2026 is to watch (1) whether industrial recovery stays intact, (2) whether AI infrastructure capex remains resilient, and (3) whether earnings estimates keep moving higher—because, right now, the Street is clearly leaning in that direction. [34]
References
1. www.reuters.com, 2. www.tipranks.com, 3. www.tipranks.com, 4. www.tipranks.com, 5. www.tipranks.com, 6. www.tipranks.com, 7. www.sec.gov, 8. www.nasdaq.com, 9. www.marketbeat.com, 10. www.tipranks.com, 11. www.tipranks.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.analog.com, 15. www.reuters.com, 16. www.nasdaq.com, 17. www.tipranks.com, 18. www.tipranks.com, 19. www.marketwatch.com, 20. www.tipranks.com, 21. www.sec.gov, 22. www.sec.gov, 23. www.nasdaq.com, 24. www.analog.com, 25. www.reuters.com, 26. www.reuters.com, 27. www.tipranks.com, 28. www.investing.com, 29. www.nasdaq.com, 30. www.zacks.com, 31. www.tipranks.com, 32. www.reuters.com, 33. www.sec.gov, 34. www.nasdaq.com
