Analog Devices Inc. (NASDAQ:ADI) is drawing bullish analyst commentary after its latest quarterly results showed accelerating artificial intelligence data center demand, broad-based semiconductor strength and improving margins.
JPMorgan analyst Harlan Sur reiterated an Overweight rating on Analog Devices and raised the December 2027 price forecast to $500 from the prior December 2026 forecast of $450. The firm called Analog Devices its top pick among broad-based diversified semiconductor companies.
TD Cowen maintained a Buy rating and $460 price forecast. The firm said accelerating AI demand and a continued cyclical recovery could support further gains.
AI Data Center Business Accelerates
JPMorgan said Analog Devices’ data center business now accounts for about 80% of Communications revenue and 13% of total company revenue. Optical and power sales grew more than 100% year over year.
