Analyst Consensus ?
ConsensusBuy53 ratings
Bullish4483.0%
Neutral917.0%
Bearish00.0%
Analog Devices, Inc. · ADI · FY2025 Q3 · Calendar Q3 2025
ADI: Industrial recovery strengthens, while margin and cycle risks remain
The latest analysis supports a constructive but conditional view: industrial recovery, robotics, and connectivity provide credible growth drivers, but durability, utilization, supply, and macro risks must be monitored before treating the trajectory as established.
Reported Before market openNASDAQTechnology
$192.61B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.05
Consensus $1.95
EPS surprise
+5.1%
Reported versus consensus
Reported revenue
$2.88B
Consensus $2.77B
Revenue surprise
+4.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+6.3%
Event window
SPY move
-0.3%
Same window
Abnormal move
+6.5%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+1.7%
Up to 20 sessions
ADISPY benchmark
Ask FN2 about ADI FY2025 Q3
Transcript, numbers and history already loaded
Why did ADI rise 6.3% after beating EPS estimates in FY2025 Q3?What changed in ADI's guidance and outlook in FY2025 Q3?Give me the bull and bear case for ADI after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The narrative became more constructive: industrial automation emerged as the leading growth area, robotics partnerships gained prominence, and management's margin outlook improved after a temporary utilization issue. Auto pull-ins and geopolitical uncertainty remain important offsets.
Guidance delta
Maintained; management expects continued industrial momentum and margin recovery, while the analysis flags cyclical and execution risks.
Key takeaways
- The current analysis describes a stronger quarter led by industrial recovery and automotive connectivity.
- Industrial automation is identified as the fastest-growing segment, with continued momentum expected in the near term.
- Management highlighted robotics, including humanoid systems, as a strategic growth opportunity and expanded partnerships.
- The analysis characterizes gross-margin pressure as temporary, with utilization improvement expected to support recovery.
- Tariffs, macro uncertainty, supply constraints, and possible inventory digestion remain material risks.
Management priorities
- Scale robotics partnerships and AI-enabled platform initiatives.
- Expand internal fab capacity to support industrial demand.
- Develop application-specific sensing and automation solutions.
- Support growth in data-center, automotive connectivity, and industrial applications.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$395.43Previous close
$170Low
$368.51Average
$675High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Sep 8, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 24, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 21, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 20, 2026 |
| Seaport Global | Buy | Neutral | Upgrade | Aug 20, 2026 |
| Needham | Buy | Buy | Maintain | Aug 20, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 20, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 20, 2026 |
| Bernstein | Outperform | Market Perform | Upgrade | Aug 20, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 17, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Jul 14, 2026 |
| Stifel | Buy | Buy | Maintain | Jun 24, 2026 |
| Argus Research | Buy | Buy | Maintain | May 26, 2026 |
| Truist Securities | Hold | Hold | Maintain | May 21, 2026 |
| Raymond James | Outperform | Outperform | Maintain | May 21, 2026 |
| Jefferies | Buy | Buy | Maintain | May 21, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | May 21, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | May 21, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | May 21, 2026 |
| Citigroup | Buy | Buy | Maintain | May 21, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 21, 2026 |
| B of A Securities | Buy | Buy | Maintain | May 21, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | May 12, 2026 |
| UBS | Buy | Buy | Maintain | Feb 19, 2026 |
| Susquehanna | Positive | Positive | Maintain | Feb 19, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Feb 19, 2026 |
| Benchmark | Buy | Buy | Maintain | Feb 19, 2026 |
| Edward Jones | Buy | Hold | Upgrade | Dec 22, 2023 |
| Credit Suisse | Buy | Buy | Maintain | Feb 16, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 16, 2023 |
| RBC Capital | Outperform | Outperform | Maintain | Feb 16, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 21, 2020 |
| CFRA | Hold | Buy | Downgrade | Feb 20, 2020 |
| Bank of America | Buy | Buy | Maintain | Dec 19, 2019 |
| Nomura | Neutral | Neutral | Maintain | Nov 27, 2019 |
| Daiwa Capital | Outperform | Outperform | Maintain | Oct 22, 2019 |
| PiperJaffray | Overweight | Overweight | Maintain | Nov 21, 2018 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 27, 2018 |
| B. Riley Securities | Buy | Buy | Maintain | Aug 23, 2018 |
| B. Riley FBR | Buy | Buy | Maintain | Aug 23, 2018 |
| Loop Capital | Buy | Buy | Maintain | Jun 22, 2018 |
| B. Riley | Buy | Buy | Maintain | Mar 1, 2018 |
| Argus | Buy | Buy | Maintain | Mar 1, 2018 |
| Stephens & Co. | Overweight | Equal Weight | Upgrade | Apr 24, 2017 |
| MKM Partners | Neutral | Neutral | Maintain | Nov 23, 2016 |
| CLSA | Outperform | Outperform | Maintain | Oct 20, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | Jul 27, 2016 |
| Drexel Hamilton | Buy | Buy | Maintain | Mar 1, 2016 |
| Maxim Group | Neutral | Neutral | Maintain | Aug 19, 2015 |
| ISI Group | Neutral | Buy | Downgrade | Oct 3, 2014 |
| Macquarie | Outperform | Outperform | Maintain | Aug 27, 2014 |
| Sterne Agee | Neutral | Neutral | Maintain | Nov 28, 2012 |
| Canaccord Genuity | Buy | Buy | Maintain | Aug 22, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $395.43. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Piper Sandler | Analyst unavailable | $460 | $365.79 | +16.3% | Sep 8, 2026 |
| Robert W. Baird | Tristan Gerra | $675 | $373.09 | +70.7% | Aug 24, 2026 |
| BMO Capital | Harsh Kumar | $430 | $370.24 | +8.7% | Aug 20, 2026 |
| Seaport Global | Jay Goldberg | $425 | $373.26 | +7.5% | Aug 20, 2026 |
| Needham | Quinn Bolton | $450 | $373.26 | +13.8% | Aug 20, 2026 |
| Morgan Stanley | Analyst unavailable | $458 | $373.26 | +15.8% | Aug 20, 2026 |
| Wells Fargo | Analyst unavailable | $500 | $373.26 | +26.4% | Aug 20, 2026 |
| Goldman Sachs | Analyst unavailable | $480 | $373.26 | +21.4% | Aug 19, 2026 |
| Bernstein | Stacy Rasgon | $465 | $373.26 | +17.6% | Aug 19, 2026 |
| KeyBanc | Analyst unavailable | $525 | $386.01 | +32.8% | Jul 14, 2026 |
| Cantor Fitzgerald | Matthew Prisco | $550 | $386.91 | +39.1% | Jun 29, 2026 |
| Fundamental Research | Analyst unavailable | $550 | $386.91 | +39.1% | Jun 29, 2026 |
| Stifel Nicolaus | Analyst unavailable | $498 | $407.26 | +25.9% | Jun 24, 2026 |
| Argus Research | Jim Kelleher | $460 | $422.3 | +16.3% | May 26, 2026 |
| Bernstein | Stacy Rasgon | $430 | $384.17 | +8.7% | May 21, 2026 |
| Raymond James | Analyst unavailable | $430 | $388.3 | +8.7% | May 21, 2026 |
| Evercore ISI | Analyst unavailable | $474 | $388.18 | +19.9% | May 21, 2026 |
| Robert W. Baird | Analyst unavailable | $450 | $398.05 | +13.8% | May 21, 2026 |
| KeyBanc | John Vinh | $500 | $398.05 | +26.4% | May 21, 2026 |
| Wolfe Research | Chris Caso | $475 | $398.05 | +20.1% | May 21, 2026 |
| Wolfe Research | Analyst unavailable | $460 | $398.05 | +16.3% | May 21, 2026 |
| Wells Fargo | Joe Quatrochi | $515 | $398.05 | +30.2% | May 21, 2026 |
| Barclays | Tom O'Malley | $450 | $398.05 | +13.8% | May 21, 2026 |
| Jefferies | Blayne Curtis | $475 | $398.05 | +20.1% | May 20, 2026 |
| Goldman Sachs | Analyst unavailable | $450 | $398.05 | +13.8% | May 20, 2026 |
| Truist Financial | Analyst unavailable | $405 | $398.05 | +2.4% | May 20, 2026 |
| Stifel Nicolaus | Analyst unavailable | $450 | $417.49 | +13.8% | May 18, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $510 | $431.67 | +29.0% | May 13, 2026 |
| Wells Fargo | Analyst unavailable | $470 | $419.65 | +18.9% | May 13, 2026 |
| Oppenheimer | Analyst unavailable | $450 | $422.73 | +13.8% | May 12, 2026 |
| Robert W. Baird | Analyst unavailable | $365 | $345.6 | -7.7% | Feb 19, 2026 |
| UBS | Analyst unavailable | $430 | $340.32 | +8.7% | Feb 19, 2026 |
| Truist Financial | William Stein | $364 | $340.45 | -7.9% | Feb 19, 2026 |
| Evercore ISI | Analyst unavailable | $387 | $343.46 | -2.1% | Feb 19, 2026 |
| Morgan Stanley | Joseph Moore | $373 | $346.37 | -5.7% | Feb 19, 2026 |
| Susquehanna | Analyst unavailable | $400 | $346.37 | +1.2% | Feb 19, 2026 |
| Needham | Quinn Bolton | $400 | $346.37 | +1.2% | Feb 19, 2026 |
| KeyBanc | John Vinh | $430 | $346.37 | +8.7% | Feb 19, 2026 |
| Piper Sandler | Harsh Kumar | $360 | $346.37 | -9.0% | Feb 19, 2026 |
| Barclays | Tom O'Malley | $430 | $346.37 | +8.7% | Feb 19, 2026 |
| Jefferies | Analyst unavailable | $410 | $346.37 | +3.7% | Feb 19, 2026 |
| Oppenheimer | Analyst unavailable | $400 | $346.37 | +1.2% | Feb 19, 2026 |
| Goldman Sachs | Analyst unavailable | $370 | $346.37 | -6.4% | Feb 18, 2026 |
| Stifel Nicolaus | Tore Svanberg | $405 | $346.37 | +2.4% | Feb 18, 2026 |
| Stifel Nicolaus | Analyst unavailable | $360 | $332.27 | -9.0% | Feb 17, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $400 | $337.1 | +1.2% | Feb 17, 2026 |
| Barclays | Tom O'Malley | $375 | $337 | -5.2% | Feb 12, 2026 |
| UBS | Analyst unavailable | $400 | $321.36 | +1.2% | Feb 9, 2026 |
| Susquehanna | Analyst unavailable | $360 | $304.97 | -9.0% | Jan 22, 2026 |
| UBS | Analyst unavailable | $350 | $302.95 | -11.5% | Jan 21, 2026 |
| Morgan Stanley | Joseph Moore | $314 | $306.19 | -20.6% | Jan 16, 2026 |
| Stifel Nicolaus | Analyst unavailable | $330 | $306.04 | -16.5% | Jan 16, 2026 |
| Oppenheimer | Analyst unavailable | $350 | $302.1 | -11.5% | Jan 16, 2026 |
| Barclays | Tom O'Malley | $315 | $297.99 | -20.3% | Jan 15, 2026 |
| Wells Fargo | Analyst unavailable | $340 | $297.99 | -14.0% | Jan 15, 2026 |
| KeyBanc | Analyst unavailable | $375 | $293.86 | -5.2% | Jan 13, 2026 |
| Truist Financial | Analyst unavailable | $291 | $274.92 | -26.4% | Dec 19, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $350 | $280.52 | -11.5% | Dec 16, 2025 |
| UBS | Timothy Arcuri | $320 | $281.29 | -19.1% | Dec 8, 2025 |
| Truist Financial | William Stein | $258 | $258.4 | -34.8% | Nov 26, 2025 |
| Morgan Stanley | Joseph Moore | $293 | $255.42 | -25.9% | Nov 26, 2025 |
| Robert W. Baird | Analyst unavailable | $275 | $252.02 | -30.5% | Nov 26, 2025 |
| Bernstein | Stacy Rasgon | $270 | $258.73 | -31.7% | Nov 26, 2025 |
| Goldman Sachs | James Schneider | $300 | $252.02 | -24.1% | Nov 25, 2025 |
| Piper Sandler | Analyst unavailable | $290 | $252.02 | -26.7% | Nov 25, 2025 |
| Evercore ISI | Mark Lipacis | $282 | $252.02 | -28.7% | Nov 25, 2025 |
| CFRA | Angelo Zino | $280 | $252.02 | -29.2% | Nov 25, 2025 |
| Wells Fargo | Analyst unavailable | $265 | $252.02 | -33.0% | Nov 25, 2025 |
| Stifel Nicolaus | Tore Svanberg | $290 | $252.02 | -26.7% | Nov 25, 2025 |
| Stifel Nicolaus | Tore Svanberg | $280 | $230.72 | -29.2% | Nov 21, 2025 |
| BNP Paribas | David O'Connor | $300 | $231.33 | -24.1% | Nov 4, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $300 | $244.79 | -24.1% | Sep 30, 2025 |
| Wells Fargo | Joe Quatrochi | $235 | $231.8 | -40.6% | Jun 16, 2025 |
| Williams Trading | David Williams | $260 | $210.47 | -34.2% | May 23, 2025 |
| Morgan Stanley | Analyst unavailable | $214 | $174.99 | -45.9% | Apr 21, 2025 |
| Williams Trading | David Williams | $245 | $214.61 | -38.0% | Feb 14, 2025 |
| Piper Sandler | Harsh Kumar | $220 | $214.7 | -44.4% | Nov 27, 2024 |
| Truist Financial | William Stein | $233 | $226.78 | -41.1% | Sep 23, 2024 |
| Truist Financial | William Stein | $266 | $221.91 | -32.7% | Aug 22, 2024 |
| Morgan Stanley | Joseph Moore | $257 | $227.21 | -35.0% | Aug 22, 2024 |
| Morgan Stanley | Joseph Moore | $250 | $203.69 | -36.8% | Aug 5, 2024 |
| Barclays | Tom O'Malley | $250 | $235.61 | -36.8% | Jul 18, 2024 |
| Robert W. Baird | Tristan Gerra | $250 | $234.63 | -36.8% | May 24, 2024 |
| Truist Financial | William Stein | $275 | $237.76 | -30.5% | May 23, 2024 |
| Goldman Sachs | Toshiya Hari | $252 | $240.16 | -36.3% | May 23, 2024 |
| Barclays | Tom O'Malley | $235 | $240.16 | -40.6% | May 23, 2024 |
| Wells Fargo | Gary Mobley | $230 | $240.16 | -41.8% | May 23, 2024 |
| Bernstein | Stacy Rasgon | $220 | $240.16 | -44.4% | May 23, 2024 |
| Deutsche Bank | Ross Seymore | $225 | $240.16 | -43.1% | May 22, 2024 |
| Jefferies | Blayne Curtis | $280 | $240.16 | -29.2% | May 22, 2024 |
| Stifel Nicolaus | Tore Svanberg | $265 | $240.16 | -33.0% | May 22, 2024 |
| CFRA | Angelo Zino | $240 | $240.16 | -39.3% | May 22, 2024 |
| Stifel Nicolaus | Tore Svanberg | $240 | $214.08 | -39.3% | May 20, 2024 |
| Barclays | Tom O'Malley | $210 | $214.08 | -46.9% | May 20, 2024 |
| Evercore ISI | Mark Lipacis | $254 | $190.29 | -35.8% | Apr 15, 2024 |
| Morgan Stanley | Joe Moore | $212 | $192.78 | -46.4% | Feb 22, 2024 |
| Piper Sandler | Harsh Kumar | $175 | $189.4 | -55.7% | Feb 21, 2024 |
| Wolfe Research | Chris Caso | $225 | $185.43 | -43.1% | Jan 17, 2024 |
| Truist Financial | William Stein | $206 | $183.05 | -47.9% | Nov 27, 2023 |
| Susquehanna | Christopher Rolland | $210 | $182.67 | -46.9% | Nov 22, 2023 |
| Raymond James | Melissa Fairbanks | $200 | $173.89 | -49.4% | Aug 24, 2023 |
| Truist Financial | William Stein | $251 | $192.71 | -36.5% | Feb 21, 2023 |
| Cowen & Co. | Cowen Cowen | $200 | $171.68 | -49.4% | Dec 15, 2022 |
| UBS | Timothy Arcuri | $195 | $168.43 | -50.7% | Nov 23, 2022 |
| Deutsche Bank | Analyst unavailable | $170 | $170.57 | -57.0% | Aug 18, 2022 |
| Truist Financial | Analyst unavailable | $209 | $170.89 | -47.1% | Aug 18, 2022 |
| Citigroup | Analyst unavailable | $195 | $168.38 | -50.7% | Aug 18, 2022 |
| Piper Sandler | Analyst unavailable | $190 | $167.18 | -52.0% | Aug 18, 2022 |
| Deutsche Bank | Ross Seymore | $165 | $171.96 | -58.3% | Jul 30, 2022 |
| Morgan Stanley | Analyst unavailable | $173 | $159.04 | -56.3% | Jun 10, 2022 |
| Truist Financial | William Stein | $203 | $162.44 | -48.7% | May 21, 2022 |
| Morgan Stanley | Analyst unavailable | $186 | $162.18 | -53.0% | May 19, 2022 |
| Morgan Stanley | Analyst unavailable | $178 | $158.74 | -55.0% | May 16, 2022 |
| Piper Sandler | Harsh Kumar | $210 | $158.74 | -46.9% | Apr 10, 2022 |
| Citigroup | Christopher Danely | $192 | $159.65 | -51.4% | Feb 17, 2022 |
| UBS | Pradeep Ramani | $225 | $159.65 | -43.1% | Feb 17, 2022 |
| Barclays | Blayne Curtis | $180 | $172.91 | -54.5% | Jan 12, 2022 |
| Wells Fargo | Gary Mobley | $185 | $171.24 | -53.2% | Dec 21, 2021 |
| Bank of America Securities | Vivek Arya | $220 | $180.89 | -44.4% | Nov 24, 2021 |
| J.P. Morgan | Harlan Sur | $220 | $180.89 | -44.4% | Nov 24, 2021 |
| Raymond James | Chris Caso | $210 | $180.89 | -46.9% | Nov 24, 2021 |
| BMO Capital | Ambrish Srivastava | $220 | $180.87 | -44.4% | Nov 23, 2021 |
| Oppenheimer | Rick Schafer | $210 | $187.17 | -46.9% | Nov 19, 2021 |
| KeyBanc | John Vinh | $200 | $166.16 | -49.4% | Jul 6, 2021 |
| Bernstein | Stacy Rasgon | $185 | $156.76 | -53.2% | May 20, 2021 |
Track every rating change on ADI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAnalog Devices, Inc. (ADI) is a technology leader specializing in the conception, production, validation, and global marketing of integrated circuits (ICs), software solutions, and advanced subsystems. Their offerings leverage sophisticated analog, mixed-signal, and digital signal processing technologies. The company's comprehensive product lineup features data converters, which are critical for transforming real-world analog signals into digital data and subsequently converting digital data back into analog signals. They also provide power management and reference devices, essential for power conversion, driver supervision, system sequencing, and energy optimization in industries such as automotive, telecommunications, industrial applications, and premium consumer markets. These power ICs are supported by integrated performance, integration, and software design simulation tools for precise power supply development.…
Historical context
All ADI earningsTechnology peers this season
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| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
Latest beats and misses
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- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
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Get the ADI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-29T06:31:01.647826+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T06:31:01.645077+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-29. For educational purposes only; not investment advice.