Analog Devices Inc. (ADI) advanced 1.7% in pre-market trading on Wednesday after the company reported fiscal third-quarter results that exceeded analyst expectations and provided an upbeat outlook for the current quarter.
The chipmaker posted revenue of $4.02 billion for the period, a 40% increase from the same quarter last year and above the $3.91 billion consensus estimate. Adjusted earnings per share reached $3.45, surpassing the $3.34 forecast. The company returned $1.7 billion to shareholders through dividends and share repurchases during the quarter.
Vincent Roche, Analog Devices’ chief executive officer, noted the company had "exceeded the midpoint of our revenue, margin, and earnings outlook" as demand strengthened across the Data Center and Industrial segments. The positive performance follows a broader semiconductor-led selloff earlier in the week, which weighed on major U.S. equity benchmarks.
For the fourth quarter, Analog Devices guided adjusted EPS to a range of $3.71 to $4.01, above the Street’s $3.55 estimate. Revenue is projected between $4.2 billion and $4.4 billion, compared with the $4.08 billion consensus. The company’s outlook reflects continued strength in industrial and data center markets, according to analysts at Goldman Sachs, who had flagged the potential for an above-consensus print.
Cantor Fitzgerald maintained an Overweight rating on the stock with a $550 price target, underscoring confidence in Analog Devices’ growth trajectory. The report was released on August 19, 2026, at 07:34 AM ET, as the S&P 500 and Dow Jones Industrial Average edged marginally higher while the Nasdaq slipped slightly amid ongoing market volatility.
