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Analog Devices posts first $4B quarter amid AI demand

8/20/2026

Summary

Analog Devices $4B

Analog Devices posted 2026 Q3 revenue of $4.02 billion, the first $4 billion quarter.
Adjusted earnings per share hit $3.45, up 68% YoY, while operating margin rose to 50.0%.
Industrial sales grew 53% while communications sales rose 84% YoY, driven by data-center demand.
CEO Vincent Roche and CFO Richard Puccio said power availability limits AI progress, outlined a “grid-to-chip” strategy, and guided Q4 revenue to $4.3 billion ± $0.1 billion with operating margin 52%.

Summary

Analog Devices Inventory Surge

Analog Devices' days-inventory-outstanding increased to 134 this quarter, 6 days above its five-year average, indicating higher inventory levels.
After the earnings announcement, the company's shares rose 1.7% to $383 in after-hours trading.
Analysts' average price target is $457.73, well above the current share price of $391.30.
Analog Devices' five-year compounded annual sales growth of 16.4% exceeds the semiconductor industry average, indicating a strong market position.

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Analog Devices $4B

Analog Devices posted 2026 Q3 revenue of $4.02 billion, the first $4 billion quarter.
Adjusted earnings per share hit $3.45, up 68% YoY, while operating margin rose to 50.0%.
Industrial sales grew 53% while communications sales rose 84% YoY, driven by data-center demand.
CEO Vincent Roche and CFO Richard Puccio said power availability limits AI progress, outlined a “grid-to-chip” strategy, and guided Q4 revenue to $4.3 billion ± $0.1 billion with operating margin 52%.

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