What the analyst said

Oppenheimer analyst Rick Schafer reiterated an Outperform rating and $450.00 price target on Analog Devices (NASDAQ: ADI).

“ADI reported upside results and outlook Wednesday. F2Q (April) sales/EPS beat the Street by 3%/7% as AI demand continues to drive growth/upside in DC (Comms) and ATE (Industrial).

Auto was also much better than forecast. F3Q (July) outlook 8%/11% ahead (top line +8% Q/Q) as DC and ATE strength expected for the foreseeable.

All industrial businesses up Q/Q and Y/Y as broad cyclical recovery continues. DC (75% of Comms; 11% of top line) up >90% Y/Y (optical and power up equally).

Auto bouncing back earlier than expected following tariff related pull ins last year. Customer inventories lean. F2Q growth in Auto driven by content/share gains in ADAS and infotainment.

Consumer resilient in F2Q as premium tier less impacted by memory shortage. Impact expected in 2H. Empower acquisition expands premium TAM with IVR (closes this year).

Revenue contribution di minimis this year. Reiterate Outperform. Target $450.”

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Where the price stands

ADI trades at $364. The 10 analysts who set a target in the last 3 months range from $430 to $675, with a median of $487. This $450 target is 8% below the median.

Since the note ADI has moved −9% (from $398). 12-month window: day 169 of 365, closes on May 21, 2027.

Track record

This callOpen: ADI has not reached $450 yet. This 12-month target is scored on May 12, 2027. Same target as this firm’s May 12, 2026 note, so it is scored there.

Firm track recordOppenheimer: 64% of its 14 targets at least a year old were reached within 12 months. Accuracy ranking →

Earnings reactionOne of 13 notes after Analog Devices’s May 20 results: 11 raised · 0 cut · 2 kept. See every call →

Oppenheimer on Analog Devices

Oppenheimer price targets on Analog Devices

4 calls from January 16, 2026 to May 21, 2026. The target went from $350 to $450 (+29%). The rating stayed Buy.

Oppenheimer targetADI share price
  1. May 21, 2026 This noteKept the $450 targetBuy$450
  2. May 12, 2026Target raised from $400 (+13%)Buy$450
  3. February 19, 2026Target raised from $350 (+14%)Buy$400
  4. January 16, 2026Earliest call shownBuy$350
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Other analysts on Analog Devices

TD CowenBuy Raised price target +3%, kept rating Oct 19 $475from $460 TD CowenBuy Kept rating and price target Sep 8 $460maintained CantorBuy Kept rating and price target Sep 8 $550maintained BairdBuy Raised price target +50%, kept rating Aug 24 $675from $450 BMO CapitalBuy Initiated coverage Aug 21 $430
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.