Analog Devices, Inc. (ADI) is a global semiconductor company focused on analog, mixed-signal, and digital signal processing (DSP) chips used across industrial, automotive, communications, consumer, and data-center applications. As the stock trades near $394, the question is whether it can climb roughly 19% to a $470 price target.
Wall Street coverage of ADI is broadly constructive. Independent aggregators polling 33 to 34 analysts report an average analyst price target of roughly $460 to $471, with a consensus rating of Strong Buy to Moderate Buy. My own review of about 20 individually attributed, recently published targets yields a similar picture, with an arithmetic mean near $470 after rounding.
The range is unusually wide. Cautious names sit near the bottom: Truist has a Hold with a $405 target, while BMO Capital initiated coverage with a $430 objective. The bulk of bullish targets cluster between $450 and $525, including KeyBanc at $525, Cantor Fitzgerald at $510, JPMorgan and Wells Fargo at $500, Bank of America at $500, and Stifel at $498. At the top, Robert W. Baird lifted its target from $450 to $675, citing AI-driven demand, a genuine outlier that materially lifts the average.
Recent revisions have leaned higher. TD Cowen raised its target from $460 to $475 in October 2026, while KeyBanc, Goldman Sachs, and Arete Research have all moved targets up through the second half of 2026. Morgan Stanley, Evercore, Piper Sandler, Oppenheimer, and Barclays sit in the $450 to $462 range. The key takeaway is that analyst consensus is positive but the dispersion of views means the average should be read as a directional benchmark, not a forecast.
With the stock near $394, reaching $470 requires roughly a 19% advance — a substantial move against a market capitalization near $191 billion. The path is plausible but not assured. In its most recent reported quarter, Analog Devices delivered revenue of about $4.02 billion, up 39.2% year over year, with non-GAAP earnings per share (EPS) of $3.45 beating the roughly $3.34 consensus. Management guided the following quarter to EPS of $3.71 to $4.01.
The company has emerged from a deep inventory correction that pressured results through 2024 and early 2025. Revenue is approaching prior peak levels, and analysts expect growth across industrial, automotive, communications, and data-center end markets. A valuation of roughly 47 times trailing earnings, however, means a meaningful portion of that recovery is already reflected in the share price, leaving less room for error.
Analog Devices set a 52-week high of $445.91 in mid-2026 and currently trades about 11% below that peak. The stock sits above its 50-day moving average near $383 and its 200-day moving average near $388, keeping the intermediate trend constructive. The $445 to $446 area is a meaningful resistance level representing the prior high and a psychological milestone; a decisive move above it would be required before the $470 target becomes relevant. On the downside, the $380 to $388 zone, where the moving averages converge, is a key support level, with the 52-week low of $223.47 representing a much deeper floor.
Analyst price targets generally reflect a research horizon of about 12 months, though individual firms vary. Investors should watch the next earnings report, expected around late November 2026, for confirmation of guidance and demand commentary. Also relevant are analyst target revisions, industrial and automotive purchasing data, Federal Reserve policy as it affects interest-rate-sensitive end markets, and any updates on AI and data-center design wins.
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The $470 target is a credible, analyst-derived benchmark — the rounded average of roughly 20 attributed price targets — rather than a guarantee. It requires a substantial move of about 19% from the current price near $394, and it sits well within the observed analyst range of about $405 to $675. The bull case rests on a broadening cyclical recovery, AI and data-center momentum, and strong earnings execution, while the bear case centers on a rich valuation, macro sensitivity, and concentration risk. The wide spread between the lowest and highest targets underscores genuine uncertainty. Whether Analog Devices reaches $470 will depend most on continued earnings beats, the durability of AI-related demand, and whether end-market recoveries in industrial and automotive stay on track.
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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% | +1.38% | ||
| TXN - ADI | 82% Closely correlated | +1.86% | ||
| MCHP - ADI | 81% Closely correlated | -0.63% | ||
| MCHPP - ADI | 80% Closely correlated | -0.53% | ||
| LRCX - ADI | 79% Closely correlated | -0.02% | ||
| KLAC - ADI | 79% Closely correlated | -1.50% | ||
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