Earnings Preview: What to Expect From Analog Devices’ Report

Wilmington, Massachusetts-based Analog Devices, Inc. (ADI) is a leading global semiconductor company specializing in analog, mixed-signal, and digital signal processing (DSP) integrated circuits. Valued at $195.1 billion by market cap, the ADI plays a critical role in translating real-world signals, such as sound, temperature, motion, and light, into digital data that electronic systems can process.

The global semiconductor leader is expected to announce its fiscal 2026 second-quarter earnings before the market opens on Wednesday, May 20. Ahead of the event, analysts expect ADI to report a profit of $2.88 per share on a diluted basis, up 55.7% from $1.85 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. 

For the current year, analysts expect ADI to report EPS of $11.38, up 46.1% from $7.79 in fiscal 2025. Its EPS is expected to rise 11.4% year over year to $12.68 in fiscal 2027. 

Over the past year, ADI stock has returned 104.7%, notably outperforming both the S&P 500 Index’s ($SPX) 30.6% gains and the State Street Technology Select Sector SPDR Fund’s (XLK) 56% gains over the same time frame.

On Apr. 17, shares of Analog Devices rose about 4.4% as easing geopolitical tensions, following a U.S.-Iran ceasefire, reduced concerns over disruptions to global chip supply chains. Improved visibility around shipping routes and lower inflation pressures boosted sentiment across semiconductor stocks. 

Analysts’ consensus opinion on ADI stock is bullish, with a “Strong Buy” rating overall. Out of 33 analysts covering the stock, 24 advise a “Strong Buy” rating, four suggest a “Moderate Buy,” and five give a “Hold.” While ADI currently trades above its mean price target of $391.33, the Street-high price target of $475 suggests an upside potential of 18.9% from the current market prices.