Analog Devices, Inc. (ADI), the analog, mixed-signal, and digital-signal processing chipmaker, is widely covered on Wall Street. Reviewing the current field of roughly 33 to 34 individual 12-month price targets, the arithmetic mean lands near $470, which I round to $470 as the central target. Independent aggregators report similar figures, ranging from about $460 (MarketBeat) to about $472 (S&P Global and MarketScreener), supporting the use of $470 as a fair representation.
The spread is striking: the low end sits near $365, while Baird's $675 target is the most bullish and reflects a multi-year upcycle thesis. Most targets cluster between roughly $425 and $550. Recent activity has been broadly constructive. TD Cowen lifted its target from $460 to $475 in October, Bernstein upgraded the stock to Outperform with a $465 target, Morgan Stanley raised its target to $458, Wells Fargo moved to $500, Cantor Fitzgerald reiterated at $550, and Baird raised its target from $450 to $675. Cautious voices remain, however, with some Hold-rated targets well below the mean.
With shares near $417 as of the latest close, reaching $470 would require a gain of roughly 12.7%, a modest-to-moderate move by historical standards. The stock trades about 6% below its 52-week and all-time high of $445.91, so the first leg of the journey is simply reclaiming that prior peak before attempting a fresh breakout toward $470.
The path is plausible but not assured. ADI's most recent quarterly results showed EPS (earnings per share) of $3.45, ahead of the $3.34 consensus, on revenue of $4.02 billion, up about 39% year over year. Guidance pointed to continued momentum. However, the stock already trades at a trailing P/E (price-to-earnings ratio) near 48 to 50 times, meaning much of the near-term growth is already reflected in the price. Progress toward $470 therefore depends less on a simple valuation re-rating and more on sustained earnings delivery.
The chart shows a durable resistance level at the all-time high of $445.91, followed by the round-number $450 area. On the downside, the $390 to $400 zone has acted as support after recent pullbacks, with the 60-day moving average near $385 and a deeper floor around $365, matching the low end of the analyst range. ADI's advance from below $250 in early 2026 to above $417 reflects a strong long-term uptrend, but the wide target range indicates the next leg higher is contested.
Analyst price targets generally reflect a roughly 12-month research horizon, though individual firms differ in their assumptions about the duration and scale of the AI and industrial recovery. The next fiscal-quarter report, scheduled around late November, is the nearest catalyst, with focus on revenue growth, gross margin, and forward guidance. Investors should also monitor data center and industrial demand indicators, semiconductor-sector pricing, analyst revisions, and macroeconomic and interest-rate signals that influence high-multiple technology valuations.
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The question of whether ADI can reach $470 is best framed as one of execution rather than direction. The $470 central target, derived from the mean of roughly 33 to 34 analyst price targets, implies a roughly 13% advance from current levels. Support comes from accelerating earnings, AI and data center exposure, and a recovering industrial and automotive backdrop. The principal obstacles are a demanding valuation, cyclicality, insider selling, and the need to break decisively above the $445.91 prior high. With the analyst range spanning $365 to $675, the honest conclusion is that $470 is a credible but not guaranteed objective, and the next earnings report will be the clearest test of whether the bull case remains intact.
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A.I.dvisor indicates that over the last year, ADI has been closely correlated with TXN. These tickers have moved in lockstep 82% of the time. This A.I.-generated data suggests there is a high statistical probability that if ADI jumps, then TXN could also see price increases.
| Ticker / NAME | Correlation To ADI | 1D Price Change % | ||
|---|---|---|---|---|
| ADI | 100% | -3.73% | ||
| TXN - ADI | 82% Closely correlated | -3.40% | ||
| MCHPP - ADI | 81% Closely correlated | -4.37% | ||
| MCHP - ADI | 80% Closely correlated | -4.66% | ||
| LRCX - ADI | 79% Closely correlated | -6.01% | ||
| KLAC - ADI | 79% Closely correlated | -5.69% | ||
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