TD Cowen Raises Analog Devices (ADI) Price Target to $475
Key Points
- TD Cowen reiterated its Buy rating on Analog Devices, Inc. on October 19, 2026, while lifting its price target from $460.00 to $475.00.
- TD Cowen's $475 price target implies 20.48% upside from Analog Devices, Inc.'s ($ADI) current $394.26 share price.
- Analog Devices, Inc. recently traded near $394.26, sitting above its 50-day moving average of $383.40.
- Four insiders completed stock sales totaling several thousand shares during early October 2026.
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TD Cowen reiterated its Buy rating on Analog Devices, Inc. ADI and raised its price target from $460.00 to $475.00 on October 19, 2026. The research note arrived as part of the firm's ongoing coverage of the semiconductor sector.
ADI
Analog Devices, Inc.
TD Cowen vs. the S&P 500
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TD Cowen's Call on Analog Devices, Inc.
On October 19, 2026, TD Cowen maintained its positive stance on the chip maker with a Buy rating while nudging its target up from $460.00. Wall Street consensus overall remains firmly in the positive camp with a strong buy recommendation key and a mean price target of $472.44 across 32 analyst opinions.
Other Institutional Activity in Analog Devices, Inc.
Tritonpoint Wealth reduced its holdings by 1,676 shares, ending with 18,649 shares worth about $7,398,195.00. Meanwhile, Van Eck Associates Corporation grew its holdings by 1,671,073 shares, ending with 8,422,883 shares worth about $3,321,563,962.00.
Analog Devices, Inc. Stock Down 0.3%
Analog Devices, Inc. closed at $394.35 on October 19, 2026, and recently traded around $394.26 as of October 20, 2026. The stock trades above its 50-day moving average of $383.40 and remains 11.6% below its 52-week high of $445.91.
$ADI price target
Analog Devices, Inc. daily closes and this analyst's $475 target. Not advice.
Recent Earnings
Analog Devices, Inc. reported trailing-twelve-month revenue of $13.88 billion alongside earnings of $8.42 per share. The company posted a net profit margin of 29.8% and a return on equity of 12.2%. Its next quarterly earnings report is scheduled for November 24, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
13 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.3%. Revenue beat estimates by 2.1%.
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Profit surprise
EBITDA missed by 3 percent. Operating income missed by 14 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
13 target raises.
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Earnings quality
Gross margin up 6.3 points. Operating margin up 12.4 points. Positive free cash flow.
Earnings Call Summary
Analog delivered record $3.62 billion in revenue, up 37 percent year over year and beating expectations. Industrial segment led the way up 56 percent, while data center surged 90 percent. The company is investing in AI, automation, energy systems, and healthcare, and just announced the acquisition of Empower Semiconductor to fill gaps in power-delivery technology for data centers. Management said demand is strong across all markets and they have ample capacity and supply-chain resilience to keep growing.
Guidance They guided for about $3.09 billion in revenue next quarter, above consensus. They expect mid- to high-single-digit growth in industrial and automotive, with communications up low- to mid-teens. Management sees capacity to support up to $20 billion revenue by 2030 and continues building both internal and external manufacturing.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
The company pays an annual dividend rate of $4.40 per share, yielding 1.12% with a payout ratio of 49.6%.
Insider Buying and Selling at Analog Devices, Inc.
Four separate insider transactions occurred in early October 2026 ahead of the rating update. Officer Katsufumi Nakamura sold 1,200 shares on October 2, 2026, at $415.02 per share for a total value of $498,029.00. Chief Operating Officer Vivek Jain sold 2,000 shares on the same day at $416.98 per share worth $833,962.00. Chief Financial Officer Richard C. Puccio Jr. disposed of 1,500 shares on October 6, 2026, at $421.08 per share totaling $631,620.00. Finally, Director Raymond S Stata sold 2,832 shares on October 7, 2026, valued at $1,171,631.00.
Analysts Set New Price Targets
JP Morgan maintained an Overweight rating with a target of $500.00 on August 20, 2026. BMO Capital initiated coverage with an Outperform rating and a $430.00 target on August 21, 2026. Baird maintained an Outperform rating with a $675.00 target on August 24, 2026.
About Analog Devices, Inc.
Analog Devices, Inc. designs, manufactures, and markets integrated circuits, software, and subsystems for industrial, automotive, and communications markets. Headquartered in Wilmington, Massachusetts, the firm provides signal processing technology utilized across various electronic systems globally.
Bottom Line
TD Cowen's target increase reflects steady confidence in the chip maker as shares trade near $394.26. Investors will look toward the upcoming earnings release on November 24, 2026, for fresh updates on demand across industrial and consumer semiconductor markets.
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Source: TD Cowen's rating change on $ADI (Oct 19, 2026). Written by software, not financial advice. How we make alerts