Analog Devices Stock (ADI) Hits 52‑Week High After Q4 Earnings Beat: November 29, 2025 News Roundup

Analog Devices, Inc. (NASDAQ: ADI) is ending November on a strong note. As of Friday’s close, the stock traded at $265.34, a new 52‑week high and roughly a 3% gain on the day, with around 2.6 million shares changing hands. ^[1] Over the last 12 months, ADI has delivered a total return of about 21.8%, and over five years the stock is up roughly 84.5%, well ahead of the broader market. ^[2]

On November 29, 2025, fresh coverage from MarketBeat, Smartkarma, Simply Wall St and others focused on one central question: is Analog Devices’ stellar fundamental momentum now fully priced in, or is there more room to run in 2026?

Below is a structured look at the latest numbers, guidance and analysis investors are digesting today.

Price and performance snapshot

Last close (Nov 28, 2025): $265.34
52‑week range: $158.65 – $265.75
Market capitalization: roughly $130 billion
Dividend yield: about 1.5%, with an annual dividend of $3.96 per share and the next ex‑dividend date on December 8, 2025. ^[3]

Smartkarma’s market movers update today flagged ADI’s 2.88% daily gain, strong year‑to‑date performance of about +21.4%, and an overall Smart Score of 4/5 across value, dividend, growth, resilience and momentum factors. ^[4] This puts ADI firmly in the “quality compounder” bucket from a quantitative screening perspective.

Devyara’s long‑term performance analysis highlights that a $10,000 investment made ten years ago would now be worth around $44,800, implying an annualized return of roughly 16%, excluding taxes and fees. ^[5] That history is part of what’s underpinning current investor enthusiasm around the stock’s latest breakout.

Q4 2025: earnings beat, margins expand, record free cash flow

The latest leg higher in Analog Devices stock has been driven by the company’s fourth‑quarter fiscal 2025 results, released on November 25.

Key headline numbers:

Q4 revenue: $3.08 billion, ahead of forecasts around $3.01–$3.02 billion and up roughly 26% year‑on‑year. ^[6]
Adjusted EPS: $2.26, beating expectations of about $2.22–$2.23 and rising roughly 35% year‑on‑year. ^[7]
Gross margin: about 69.3%, up 140 basis points. ^[8]
Operating margin: about 41.9%, up 100 basis points. ^[9]
Record free cash flow: approximately $4.3 billion for fiscal 2025, or about 39% of revenue. ^[10]

The strength was broad‑based. Reuters notes that: ^[11]

Industrial revenue — almost half of ADI’s business — grew 34% to about $1.43 billion, helped by spending on factory automation, defense, digital health and energy infrastructure.
Communications revenue climbed to around $390 million, up high‑30s percent year‑on‑year.
Automotive and consumer end‑markets also expanded, with growth in the high teens and single digits respectively, according to MarketBeat’s coverage of the quarter. ^[12]

On a full‑year basis, Analog Devices delivered:

Fiscal 2025 revenue: about $11.0 billion, up roughly 17% versus 2024.
EPS: up around 22% year‑on‑year to approximately $7.79.
Free cash flow: $4.3 billion, with management returning about 96% of that to shareholders via $2.2 billion of share repurchases and $1.9 billion in dividends. ^[13]

The combination of accelerating top‑line growth, expanding margins and high cash return has been central to the bullish narrative around ADI this week.

Guidance and the 2026 industrial super‑cycle story

Management’s outlook for Q1 fiscal 2026 added further fuel to the rally:

Q1 revenue guidance: about $3.1 billion, plus or minus $100 million, versus analyst expectations around $2.96 billion.
Adjusted EPS guidance: roughly $2.29 (±$0.10) per share, ahead of the Street’s ~$2.16 consensus. ^[14]
Target operating margin: about 43.5% for the quarter. ^[15]

Reuters reports that CFO Richard Puccio framed the backdrop as an ongoing cyclical recovery after a prolonged demand slump, but cautioned that macro uncertainty and tariffs could shape the exact path of fiscal 2026. ^[16]

A detailed MarketBeat article this week described the Q4 print as a “beat‑and‑raise” quarter and argued that the results confirm a “super‑cycle in industrial semiconductors”: inventories have largely normalized, demand is broad‑based across end markets, and pricing and earnings quality are improving. ^[17]

On the sell‑side modeling side, Simply Wall St’s updated forecast (also refreshed on November 29) now embeds: ^[18]

Earnings growth: about 19.5% per year over the next few years.
Revenue growth: around 10% per year, slightly below their estimate for the broader U.S. market.

Those forecasts backstop the view that ADI is entering a multi‑year expansion phase, driven by industrial automation, communications infrastructure, automotive electronics and AI‑related demand.

November 29 analyst coverage: broadly bullish, valuation in focus

Consensus rating: “Moderate Buy” with limited upside

A fresh MarketBeat update today shows that 33 analysts currently cover Analog Devices: about 22 rate it a Buy, 9 a Hold and 2 a Strong Buy, giving the stock a “Moderate Buy” consensus rating. ^[19]

Across this group, the average 12‑month price target sits near $281–$282 per share, implying a mid‑single‑digit to low‑double‑digit upside from current levels, depending on which closing price you use. ^[20] Some of the most optimistic targets run to about $310–$320, according to MarketBeat and Smartkarma’s summary of recent upgrades from major Wall Street banks like JPMorgan and Bank of America. ^[21]

From a traditional metrics standpoint, MarketBeat notes a trailing P/E close to 68x and a dividend yield just under 1.5%, reflecting the stock’s premium valuation against both its history and some peers. ^[22]

Smartkarma: strong factor profile and momentum

Smartkarma’s November 29 “Market Movers” note emphasizes ADI’s strong factor scores across value, dividend, growth, resilience and momentum, each rated 4/5 for an overall Smart Score of 4.0. ^[23] The report also highlights:

ADI’s consistent upside surprises in recent quarters.
A robust capital‑return program (dividends plus buybacks).
The company’s positioning at the intersection of industrial, automotive and communications demand.

In that framework, today’s move to fresh highs is presented as consistent with a longer‑term, factor‑driven uptrend rather than a short‑term spike.

Simply Wall St: “significant overvaluation” versus intrinsic value

In contrast, a new Simply Wall St valuation piece published today warns that Analog Devices may be priced well above fair value. Using a discounted cash flow model, the platform estimates intrinsic value around $162.59 per share, implying the stock trades at roughly a 59% premium to its calculated fair value. ^[24]

They also flag:

A current P/E near 55–56x, versus a “fair” multiple closer to 38x based on earnings growth, and versus a semiconductor industry average in the mid‑30s. ^[25]
A 1/6 score on their internal valuation scale, indicating meaningful downside risk if multiples compress.

Simply Wall St acknowledges the company’s strong fundamentals and growth outlook but concludes that recent share price strength “may already reflect much of that optimism.” ^[26]

Other commentary: performance vs tech sector

A separate Yahoo Finance update notes that despite this week’s surge, Analog Devices has underperformed the broader technology sector over the past year, even as analysts remain moderately optimistic about its medium‑term prospects. ^[27]

Taken together, the November 29 coverage paints a picture of a fundamentally strong company now trading at a rich valuation, where the key debate is how much of the coming industrial and AI up‑cycle is already in the price.

Strategy spotlight: CodeFusion Studio 2.0 and the push into embedded AI

Beyond the numbers, one of the more important strategic themes for Analog Devices in late 2025 is its move deeper into software and AI‑centric tools.

On November 3, the company announced CodeFusion Studio 2.0, the latest version of its open, extensible embedded development platform. ^[28] Built on Microsoft Visual Studio Code, the new release is designed to:

Provide a single entry point for development across ADI’s microcontrollers, DSPs and SoCs, now supporting more than two dozen products. ^[29]
Offer an end‑to‑end AI workflow, allowing developers to bring their own machine‑learning models, validate them for compatibility, profile performance and deploy them across ADI hardware from ultra‑low‑power edge devices to high‑performance signal processors. ^[30]
Simplify multi‑core debugging, with unified visibility across CPU, DSP and accelerator cores, as well as improved memory analysis and pin/peripheral configuration tools. ^[31]

Trade and industry coverage from EDN, All About Circuits, IoT Insider and others has framed CodeFusion Studio 2.0 as part of ADI’s broader pivot toward what it calls “Physical Intelligence”—systems that sense, decide and act locally, combining analog front‑ends with embedded AI. ^[32]

For equity investors, this software layer may help:

Increase switching costs for customers.
Expand ADI’s role beyond component supplier toward platform partner.
Tie hardware sales more tightly to long‑term AI and automation roadmaps.

That narrative is one reason several recent Seeking Alpha and Schwab Network pieces have described ADI as an “AI infrastructure enabler” rather than just another analog chip name. ^[33]

Supply chain strategy: Penang facility deal with ASE

Another structural development this quarter is ADI’s move to reshape its manufacturing footprint.

On October 21, Analog Devices and ASE Technology Holding announced a strategic collaboration in Penang, Malaysia. Under a binding memorandum of understanding: ^[34]

ASE plans to purchase ADI’s Penang manufacturing facility, which spans more than 680,000 square feet.
The two companies intend to enter a long‑term supply agreement, under which ASE will provide packaging and testing services for ADI’s high‑performance analog and mixed‑signal chips.
ADI will co‑invest with ASE to upgrade and expand the site’s capabilities, with the transaction expected to close in the first half of 2026, subject to definitive agreements and regulatory approvals.

Management describes the move as a way to bolster supply‑chain resilience and manufacturing flexibility, shifting more of the assembly and test load to a specialist partner while keeping strategic influence through the long‑term agreement and co‑investment. ^[35]

For investors, the deal aligns with ADI’s broader push toward a hybrid manufacturing model that can support growth, manage capital intensity and respond to geopolitical shifts in the semiconductor supply chain.

Key risks: tariffs, geopolitics and cycle timing

Despite the upbeat earnings and guidance, recent news flow also underscores that ADI is not immune to macro and policy risk.

Tariffs and export controls

Reuters’ Q4 coverage notes that Analog Devices’ outlook remains exposed to tariff and trade uncertainties, even as demand has recovered. ^[36]

A Benzinga article from October highlighted how sensitive the stock can be to policy headlines: when the Trump administration was reported to be weighing sweeping tech export restrictions to China, ADI shares fell about 2.1% in minutes, alongside other semiconductor and software‑linked names. ^[37]

More broadly, the risk is that new U.S. export controls or retaliatory measures from China could:

Limit ADI’s access to key customers.
Complicate its global manufacturing and packaging network.
Increase compliance and operating costs.

Regulatory and competitive pressure

In addition, earlier autumn coverage from Barron’s, referenced via StockAnalysis.com, noted that a Chinese anti‑dumping inquiry into certain U.S. analog chipmakers, including Texas Instruments and Analog Devices, had pressured both stocks, underlining regulatory risk in major overseas markets. ^[38]

Competition is also intense. Larger rivals and niche players are all targeting the same industrial, automotive and AI‑adjacent sockets, which means ADI must continue to invest in R&D, software and ecosystem support to protect its share.

Valuation and cycle risk

Finally, the valuation debate is not trivial. At a trailing P/E in the mid‑60s and DCF models suggesting a substantial premium to intrinsic value, ADI’s current share price is baking in: ^[39]

Continued double‑digit earnings growth.
Sustained high margins and free‑cash‑flow conversion.
A relatively smooth industrial and AI up‑cycle over the next several years.

Any hiccup — from slower industrial spending to macro shocks, export restrictions or a pause in AI‑related infrastructure build‑outs — could drive multiple compression even if the underlying business remains solid.

Bottom line: what today’s Analog Devices stock headlines signal

The November 29 news stream around Analog Devices stock can be summarized in three points:

Fundamentals are strong and accelerating. Q4 2025 delivered a clean beat on revenue and EPS, with expanding margins, record free cash flow and optimistic guidance for Q1 2026. Industrial, communications and automotive demand remain robust, and ADI is leaning into software and AI with platforms like CodeFusion Studio 2.0. ^[40]
Wall Street is constructive, but expectations are high. Consensus sits at “Moderate Buy,” with price targets only modestly above today’s level and some analysts seeing upside to $300+ if the industrial semiconductor super‑cycle plays out. At the same time, valuation‑focused models warn that ADI may already be pricing in much of that optimism. ^[41]
Macro and policy risks remain real. Tariffs, export controls and regulatory inquiries continue to hang over the broader chip space, and ADI’s recent history shows the stock can react quickly to such headlines, even when company‑specific fundamentals are strong. ^[42]

For investors following ADI on Google News or Discover, today’s coverage effectively frames the current setup as a high‑quality business entering a favorable cycle, trading at a premium price. How that trade‑off resolves in 2026 will likely depend on whether the industrial and AI demand story continues to unfold as management and the more bullish analysts expect.

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