ADI

Analog DevicesD

Nasdaq / Semiconductors & Semiconductor Equipment

At close

2026-06-02

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AI scenario view

RankAlpha Sentiment CodexPost-earnings T+3

B+

Bull case

30%

Probability

Target price

$460.00

+8.7% vs current

Most likely

Base case

45%

Probability

Target price

$405.00

-4.3% vs current

B-

Bear case

25%

Probability

Target price

$340.00

-19.7% vs current

AI sentiment snapshot

Latest data as of 2026-05-23

AI commentary

The immediate market reaction was mixed-to-negative: Reuters-linked coverage showed a roughly 7% premarket decline despite the beat and raised guide, implying valuation and positioning mattered more than the reported numbers. As of the May 22 anchor, shares were still below the pre-print close. The catalyst set is now anchored to the May 20 earnings filing and the 2H26 Empower closing window, but there is not enough analyst-revision data in the packet to claim a post-print consensus upgrade cycle. Confidence remains moderate because the primary print is strong while the forward signal is still partly a monitoring setup.

RankAlpha Sentiment Codex - 2026-05-23

Open post-earnings memo

Evidence flagged

Forward visibility is limited, so this memo should be read as a lower-conviction monitoring view rather than a catalyst-driven call.; no forward-looking company-specific catalyst is supported by primary-source evidence; high-coverage report lacks a dated company-specific catalyst beyond generic cadence

Impact

tentative

Confidence

AI events

2026-05-20eventMay 20 Q2 print and Q3 guide reset near-term estimatesMedium impact

ADI's May 20 earnings 8-K confirmed fiscal Q2 results and the related company release. The current report cites Q2 revenue of $3.62B and adjusted EPS of $3.09, both above management's prior outlook, plus fiscal Q3 guidance for revenue of $3.9B +/- $100M and adjusted EPS of $3.30 +/- $0.15. Management also cited record bookings across industrial, automotive, and communications, making the May 20 print the clearest dated company-specific catalyst in the packet. [#8-K-2026-05-20]

2026-05-29catalystPost-earnings valuation pressure can mute follow-throughMedium impact

Trusted coverage said shares were down about 7% in premarket trading on May 20 despite the beat and raised guide, with the move tied to rich valuation and profit-taking; the stock was still below the pre-print close at the May 22 anchor of 397.07. Near-term upside now depends more on follow-through in bookings and analyst revisions than on the print alone.

2026-12-31catalyst2H26 Empower Semiconductor close is the dated AI-power portfolio milestoneMedium impact

ADI's announced $1.5B all-cash acquisition of Empower Semiconductor is a dated company-specific portfolio catalyst, with closing expected in 2H26 subject to customary approvals. The strategic importance is ADI's planned expansion in grid-to-core power capabilities for AI/data-center applications, but the earnings impact remains longer dated and dependent on closing and integration execution.

View full catalyst timeline

Recommendation

N/A

No formal recommendation provided.

Open AI Memo

As of 2026-05-23 • Updated nightlySource: Internal modelMethodology