New York, Jan 7, 2026, 20:50 EST — Market closed
- Analog Devices ended little changed near $293 after a $6-plus intraday swing
- A top executive disclosed a 10,000-share sale in a recent SEC filing
- Traders are watching Friday’s U.S. jobs report and ADI’s next earnings update for demand signals
Analog Devices (ADI.O) shares ended little changed on Wednesday at $292.89, after swinging between $286.75 and $293.03 in a choppy session that left the stock near recent highs.
The steadiness matters because ADI is one of the cleaner read-throughs on “real economy” chip demand — the industrial and auto orders that tend to move late in the cycle, and can disappoint quickly when customers sit on inventory.
Investors have been leaning into semiconductors early in 2026. The question now is whether that bid stays broad, or narrows back to the AI-heavy parts of the market as earnings season approaches.
Chip stocks jumped on Tuesday as the Philadelphia Semiconductor Index — a benchmark for U.S.-listed chip shares — hit an all-time high, helped by a burst of AI optimism tied to comments from Nvidia CEO Jensen Huang at CES in Las Vegas. “I think we’re going to have a very strong earnings season for Big Tech,” said Jed Ellerbroek, a portfolio manager at Argent Capital. Reuters
A separate catalyst for ADI watchers came from a regulatory filing: Senior Vice President Martin Cotter sold 10,000 Analog Devices shares on Jan. 5 at an average price of $278.445, leaving him with about 49,664 shares, the filing showed. SEC
Analog Devices set a constructive tone on Nov. 25 when it forecast first-quarter profit and revenue above estimates after beating fourth-quarter expectations. CFO Richard Puccio said “macro uncertainty” could shape fiscal 2026, but the company saw itself as positioned to benefit from a cyclical recovery; ADI projected first-quarter revenue of about $3.1 billion, plus or minus $100 million, and adjusted earnings per share (EPS) of $2.29, plus or minus 10 cents. Reuters
The next big company checkpoint is ADI’s quarterly report. MarketBeat estimates the publication date as Feb. 18, based on last year’s timing, though it said the company has not confirmed. MarketBeat
Near-term, traders have started using Wednesday’s range as a rough map: $293 as the upside line to clear, and the high-$280s as the level that needs to hold if momentum is to stay intact.
But the setup cuts both ways. If industrial customers slow orders again, or if tariff-related uncertainty forces a pause in spending, the stock’s recent run can unwind fast — especially with broad U.S. equity valuations still stretched heading into results. The next macro test is Friday’s U.S. jobs report, followed by ADI’s earnings update expected in mid-February.
