New York, January 25, 2026, 16:51 EST — The market has closed.
Analog Devices (ADI) shares dropped $2.93, or 0.95%, ending Friday at $305.60 as chip stocks softened ahead of the weekend. The iShares Semiconductor ETF slipped 1.15%, with analog rivals Texas Instruments, Microchip Technology, and NXP Semiconductors also posting declines.
U.S. markets are closed Sunday, leaving the spotlight on Monday’s open and a packed week that might reshape risk appetite in semiconductors. The Federal Reserve’s two-day policy meeting runs January 27-28, with the rate decision announced at 2:00 p.m. and a press conference scheduled for 2:30 p.m. Wednesday.
On Tuesday, all eyes will be on Texas Instruments as it hosts its fourth-quarter and full-year earnings call, a key indicator for industrial and automotive chip demand. The company plans to webcast the event at 3:30 p.m. Central time on January 27.
Analog Devices, known for its signal-processing and power chips in factory equipment, vehicles, and communications gear, announced board changes in a Form 8-K filing. The company said director Susie Wee will retire and won’t seek re-election at the March 11 annual meeting. The board also expanded to 11 members, appointing Yoky Matsuoka as an independent director starting January 20.
The company noted that Matsuoka currently serves as an executive officer at Panasonic Holdings and has held top positions at Google, including within its healthcare division and at Google/Nest. “Yoky is an exceptional technologist and business leader,” said CEO and Chair Vincent Roche in a statement. Analog Devices
In a proxy filing ahead of the March 11 meeting, the company revealed that shareholder John Chevedden proposed letting holders of 10% of outstanding shares call a special meeting. The board recommended voting it down, noting they had already cut the threshold from 80% to 25% in 2025 and imposed a one-year holding period.
Stocks showed nerves Friday as U.S. equities closed uneven, weighed down by Intel’s disappointing forecast that soured chip shares. Investors are now bracing for a wave of tech earnings ahead. “Going into results, we’re going to be in a ‘show-me’ period,” said Julian McManus, portfolio manager at Janus Henderson, in remarks to Reuters. Reuters
For ADI, traders are paying less attention to board changes and more to what the upcoming weeks reveal about customer spending, inventories, and pricing in its main markets. Industrial demand is key. Auto build momentum plays a role too. The catch: these indicators can shift rapidly around this time of year.
The downside is clear: a hawkish Fed surprise or cautious guidance from chipmakers in upcoming earnings could drag the entire sector down, no matter what company-specific governance news emerges.
Analog Devices is set to release its first-quarter fiscal 2026 earnings on February 18 at 7:00 a.m. Eastern, with a conference call scheduled for 10:00 a.m.
