New York, Jan 6, 2026, 20:47 EST — Market closed
Analog Devices (ADI) shares jumped 5.6% to $292.94 on Tuesday, ending near the day’s high after touching $294.04. The stock swung between $277.27 and $294.04, setting near-term support around $277 and resistance near $294, with about 6.4 million shares traded.
The move came as chip stocks pushed higher on renewed AI enthusiasm, with the Philadelphia Semiconductor Index (.SOX) hitting an all-time high. “I think we’re going to have a very strong earnings season for Big Tech,” said Jed Ellerbroek, a portfolio manager at Argent Capital. Investors were also looking to Wednesday’s Job Openings and Labor Turnover Survey, a gauge of labor demand, and Friday’s U.S. jobs report for December for signals on the Fed’s next steps. Reuters
A late-session update from peer Microchip Technology helped add fuel to the rally in cyclical chipmakers tied to factory and auto spending. Microchip said it now expects third-quarter net sales of about $1.19 billion, above its prior $1.11 billion to $1.15 billion range, and CEO Steve Sanghi said bookings — incoming orders — were “very strong” in the December quarter. Microchip is set to report results on Feb. 5. Reuters
A regulatory filing also showed insider selling at Analog Devices. A Form 4 disclosure said Martin Cotter, a senior vice president, sold 10,000 shares on Jan. 5 at $278.445 each and reported holding about 49,663.684 shares afterward. SEC
Analog Devices last guided for fiscal first-quarter revenue of about $3.1 billion, plus or minus $100 million, and adjusted profit of $2.29 per share, plus or minus 10 cents. Tuesday’s surge raises the stakes for management’s next update on industrial and automotive demand, where customers have been adjusting inventory and order timing. Reuters
But the upside move leaves less room for a stumble if orders soften or customers extend digestion of existing chip stock. A pullback in the broader chip rally would likely test how much of Tuesday’s pop was sector-driven rather than company-specific.
Analog Devices has not confirmed its next earnings date, but Nasdaq’s earnings calendar pegs it around Feb. 18. Investors will be watching for commentary on bookings, margins and whether demand in its industrial-heavy mix is stabilizing after the sharp move in the stock. nasdaq.com
