US · Information Technology
ADI stock analysis: filings, institutional holders, and operating trends
Analog Devices operates in the Semiconductors industry within the Information Technology sector and is a constituent of the S&P 500. This page connects filing evidence with ownership, insider activity, forecasts, ETFs, and peer context so each dataset can be checked against the others.
Deterministic, source-linked commentary
What the latest evidence says about ADI
Analog Devices's latest filing sets the operating baseline. 10-Q covers CY2026Q1. quarterly revenue was $3.6B; year-over-year growth was 37.2%; operating margin was 38.1%; trailing free cash flow was $4.1B. Read together, these figures test whether scale is translating into profit and cash. Verify periods and company footnotes in the original SEC EDGAR filing.
The valuation range should move when ADI's operating assumptions move. The forecast scenarios were updated 2026-05-21. Revenue growth, margins, cash generation, and risk assumptions must be checked against each new filing.
No single dataset settles the ADI research case. Use institutional ownership, insider filings, forecast scenarios alongside the filing. Company facts can update before 13F positions, so align every source date and report period before treating a difference as a change in fundamentals.
Business model
Company snapshot
Analog Devices operates in the Semiconductors industry within the Information Technology sector and is a constituent of the S&P 500. The latest standardized snapshot records $12.3B of trailing revenue, $3.1B of net income, and $4.13B of free cash flow. These figures describe the reported company, while valuation and price require a separate market-data timestamp.
Operating lines
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
Geographic revenue mix
The current standardized filing dataset does not extract a comparable geographic revenue table for every issuer. Review the latest 10-K segment note for domestic and international mix, concentration, foreign-exchange sensitivity, and country-specific regulation.
10-Q · 2026-05-20
What the latest filing shows
Revenue for the latest standardized quarter was $3.62B, while diluted EPS was 2.4. Revenue changed 37.2% from the comparable period. Gross margin was 67.3% and operating margin was 38.1%. Margin direction matters because it shows whether growth is translating into operating leverage or requiring more cost to support.
Open original SEC filingCY2026Q1
Earnings analysis
| Period | Revenue | Net income | EPS | Operating margin |
|---|---|---|---|---|
| CY2026Q1 | $3.62B | $1.18B | 2.4 | 38.1% |
| TTM | $12.3B | $3.1B | 6.27 | 31.5% |
| CY2025 | $11.02B | $2.27B | See filing | 26.6% |
The standardized data shows revenue growth of 37.2%, an operating margin of 31.5%, and a net margin of 25.2%. Without a dedicated earnings article, the original filing remains the primary source for management guidance and expectation comparisons.
Scenario analysis
Forecast range
ADI is a NASDAQ-100 stock with a checked price of 398.05, market cap of 193.88B, and revenue of 12.74B. A practical 2026 scenario map is $299-358 in a bear case, $366-458 in a base case, and $470-577 in a bull case. The forecast depends on semiconductor and AI hardware exposure.
Forecast assumptions
- Revenue growth must be checked against the latest filing and management guidance.
- Current reported operating margin is 31.5%.
- TTM free-cash-flow margin is 33.6%.
- Discount rates and valuation multiples should move when risk-free rates, business risk, or estimate confidence changes.
This is not a buy or sell recommendation. Forecasts are conditional ranges whose assumptions can fail.
Open forecast methodology and scenariosInformation Technology
Peer comparison
| Company | TTM revenue | Revenue growth | Operating margin | Tracked holders |
|---|---|---|---|---|
| ADIAnalog Devices | $12.3B | 37.2% | 31.5% | 0 |
| NXPINXP Semiconductors | $12.12B | 12.2% | 31.4% | 0 |
| WDCWestern Digital | $11.78B | 45.5% | 31% | 0 |
| SNDKSandisk | $12.98B | 251% | 26.7% | 0 |
| KLACKLA Corporation | $12.98B | 11.5% | 4.9% | 0 |
| NOWServiceNow | $13.48B | 22.1% | 14% | 0 |
| MSIMotorola Solutions | $11.02B | 7.4% | 23.3% | 0 |
ADI's 37.2% revenue growth and 31.5% operating margin should be read against peers using the same reporting definitions. A higher margin may reflect pricing power or business mix, while a lower margin can reflect investment, cyclicality, or weaker economics.
Fund ownership
ETF exposure
ADI appears among the disclosed top holdings of 1 tracked ETFs shown below. ETF weights change with price movement, rebalancing, creations, redemptions, and issuer methodology.
| ETF | ADI weight | AUM | Holdings date |
|---|---|---|---|
| SMHVanEck Semiconductor ETF | 4.34% | $62.25B | May 19, 2026 |
10-K · 2025-11-25
Key risk factors disclosed in the latest 10-K
The categories below are a deterministic research checklist anchored to Analog Devices's industry and latest annual filing. They summarize areas investors should locate in Item 1A; they do not replace the company's exact legal disclosure.
- Demand and product-cycle risk: Semiconductors can experience changing customer demand, replacement cycles, and competitive product launches that affect revenue timing.
- Competition and execution: Market share depends on product quality, pricing, distribution, innovation, and management's ability to convert investment into durable customer demand.
- Supply chain and counterparties: Supplier concentration, logistics disruption, component availability, and customer concentration can affect delivery schedules, costs, and working capital.
- Regulation and litigation: Antitrust, privacy, securities, labor, tax, environmental, and industry-specific rules may change costs or restrict products and business practices.
- Financial and market risk: Foreign exchange, interest rates, credit conditions, investment values, and capital-allocation decisions can affect reported earnings and valuation.
Shareholder returns
Dividend and buyback history
Dividend
Analog Devices reported $1.82B of dividends paid over the trailing period and $484.26M in the latest standardized quarter. These are company cash outflows, not a per-share forward yield.
Share buybacks
The standardized snapshot does not currently expose a reliable repurchase authorization and share-count bridge for every issuer. Compare diluted shares outstanding across filings and read the capital-return note before concluding that buybacks reduced the share base.
Research workflow
Common research questions about ADI
Who is the largest tracked institutional holder of ADI?
The current tracked-manager sample does not identify an active ADI holder. The ADI ownership page will reflect a matching position when one enters the filing dataset.
What does recent insider activity show for ADI?
No recent Form 4 transaction appears in the current ADI window. Check the ADI Form 4 history for later company-officer or director filings.
What business does Analog Devices operate?
Analog Devices operates in the Semiconductors industry within the Information Technology sector and is a constituent of the S&P 500. The ADI company snapshot connects that business description with reported revenue, profit, and cash flow.
How does ADI compare with a close operating peer?
ADI's revenue growth is 37.2% and its operating margin is 31.5%. Compare those figures with NXPI research using the same definitions.
What do the latest financials say about ADI?
10-Q reports $12.3B of trailing revenue, with revenue growth of 37.2% and an operating margin of 31.5%. The supporting period and source are listed in the ADI filing section.
How strong is ADI's cash return profile?
Analog Devices reported $1.8B of trailing dividends paid alongside $4.1B of free cash flow. The ADI capital-return section separates company cash outflows from a forward per-share yield.
Which assumptions matter most for the ADI outlook?
The ADI range depends on revenue growth, operating margin, cash conversion, and the risk assumptions in each new filing. Recheck them in the ADI forecast section.
Primary and reference data
Sources and methodology
- Filings: SEC EDGAR CompanyFacts, 10-K, 10-Q, 8-K, Form 4, 13F-HR.
- Fundamentals: SEC EDGAR CompanyFacts; market references may use yfinance and Finnhub where explicitly available.
- ETF: Issuer disclosures and the locally dated ETF holdings snapshot.
Methodology: How SnowballHare parses and validates data.
Editorial standards: How research is published.
Disclaimer: Informational only; not investment, legal, or tax advice. Cross-check material facts against original filings before acting.
Reference notes
Data notes
Reporting dates
Use filing dates, report periods, and source links together for ADI. A company filing, a 13F disclosure, a Form 4 transaction, and an earnings release can describe different time windows, so the date beside each row matters before comparing signals.
Ownership context
13F rows are delayed public long-equity snapshots from a selected manager universe. They are useful for seeing which tracked institutions reported exposure, but they do not show every hedge, short position, cash balance, or trade made after the quarter ended.
Insider transactions
Form 4 activity should be read by transaction type, role, value, and remaining ownership. Open-market purchases and sales are different from grants, option exercises, gifts, or tax withholding, and the original SEC filing is still the controlling document.
Earnings and forecasts
Earnings pages and forecast pages are linked when a supported article exists. Treat those pages as context for reported numbers, guidance, margins, and scenario assumptions, then return to the table data when you need the underlying source date or filing trail.