Equity Profile

ADI

Analog Devices, Inc.

Information TechnologySemiconductors$188.0B

Aug19Wed

Pre-Earnings Brief

UpcomingQ3-2026Pre-Market9:00 AM EDT

Company Snapshot

Analog Devices, Inc. (ADI) is a leading semiconductor company that designs and manufactures analog, mixed-signal, and digital signal processing integrated circuits....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of a company's profitability and will indicate how well ADI is managing costs and generating income.

N/A

Revenue Growth

Revenue growth is essential to assess the company's ability to expand its market share and meet demand in a competitive environment.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ADI Q3-2026 Earnings Preview

Context

Company Snapshot

Analog Devices, Inc. (ADI) is a leading semiconductor company that designs and manufactures analog, mixed-signal, and digital signal processing integrated circuits. As a key player in the information technology sector, ADI is crucial for applications in various industries, including automotive, communications, and industrial automation, especially with the growing demand for advanced technologies like AI and IoT.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+6.49%

Avg Stock Reaction

+1.89%

Last Quarter Recap

In Q2-2026, ADI reported an EPS of $3.09, surpassing estimates by 6.81%. However, the stock declined by 3.92% the following day, indicating mixed market reactions despite the earnings beat.

Management Promises & Guidance

Continued focus on innovation in analog and mixed-signal technologies.
Commitment to expanding into new markets, particularly in automotive and industrial sectors.
Plans to enhance operational efficiency to improve gross margins.

Expectations

Wall Street Expectations

Overall, expectations for ADI's upcoming earnings are cautious, with investors looking for signs of sustained growth amid economic uncertainties.

Bull Case

If ADI can demonstrate strong revenue growth and maintain or improve its gross margins, it could lead to positive sentiment and stock appreciation.

Bear Case

Conversely, if the company fails to meet revenue expectations or shows signs of declining margins, it could trigger a negative reaction from investors.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth rate compared to last year?

Revenue growth is a key indicator of ADI's ability to capture market demand and will significantly influence investor sentiment.

How will gross margins be impacted by current market conditions?

Changes in gross margins can signal the company's operational efficiency and pricing power, which are critical for long-term profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating ADI's potential for revenue growth driven by increased demand in automotive and industrial applications, which could lead to stronger-than-expected results.

Supporting Evidence

Options are pricing a 20.26% move, indicating significant market expectations that may not align with actual performance.

The company's historical EPS beat rate of 100% suggests a strong track record of exceeding expectations.

Recent trends in the semiconductor industry indicate a rebound in demand that could favor ADI's growth.

Key Risk

If revenue growth exceeds 10%, it could challenge the cautious outlook currently held by analysts.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the debate centers around ADI's ability to sustain growth in a competitive semiconductor market while managing costs effectively.

Bull Confirmed If

Revenue growth of over 10% year-over-year would confirm the bull case and indicate strong demand.

Bear Confirmed If

A decline in gross margins below 60% would confirm the bear case and raise concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±20.26%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant move, suggesting that traders anticipate volatility around the earnings announcement.

Options are pricing ±20.3% while ADI has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

41.1%

Calls (142K)P/C Ratio: 0.96Puts (87K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Semiconductors

n=30

Fade rate: 4 of 9 (44%)

This setup has occurred 30 times across Information Technology in the last 2 years. 4 of 9 faded and 5 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.3%, with a raw directional average of -0.4% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ADI beats expectations and raises guidance, history suggests a potential stock increase of around 1.89% on the following day.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see limited movement.

Miss

Should ADI miss expectations, history indicates a potential decline of around 4.53% on the next trading day.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·2 sells

Members

House + Senate

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

R-GARichard Dean Dr McCormickRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on revenue growth in the automotive sector.
2Management's commentary on supply chain challenges and their impact on production.
3Insights into new product launches and their expected market reception.
4Discussion on competitive pressures and pricing strategies.
5Updates on strategic partnerships or acquisitions that could enhance growth.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Analog Devices, Inc. (ADI) is a leading semiconductor company that designs and manufactures analog, mixed-signal, and digital signal processing integrated circuits....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of a company's profitability and will indicate how well ADI is managing costs and generating income.

N/A

Revenue Growth

Revenue growth is essential to assess the company's ability to expand its market share and meet demand in a competitive environment.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ADI Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+6.49%

Avg Stock Reaction

+1.89%

Last Quarter Recap

In Q2-2026, ADI reported an EPS of $3.09, surpassing estimates by 6.81%. However, the stock declined by 3.92% the following day, indicating mixed market reactions despite the earnings beat.

Management Promises & Guidance

Continued focus on innovation in analog and mixed-signal technologies.
Commitment to expanding into new markets, particularly in automotive and industrial sectors.
Plans to enhance operational efficiency to improve gross margins.

Expectations

Wall Street Expectations

Overall, expectations for ADI's upcoming earnings are cautious, with investors looking for signs of sustained growth amid economic uncertainties.

Bull Case

If ADI can demonstrate strong revenue growth and maintain or improve its gross margins, it could lead to positive sentiment and stock appreciation.

Bear Case

Conversely, if the company fails to meet revenue expectations or shows signs of declining margins, it could trigger a negative reaction from investors.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth rate compared to last year?

Revenue growth is a key indicator of ADI's ability to capture market demand and will significantly influence investor sentiment.

How will gross margins be impacted by current market conditions?

Changes in gross margins can signal the company's operational efficiency and pricing power, which are critical for long-term profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating ADI's potential for revenue growth driven by increased demand in automotive and industrial applications, which could lead to stronger-than-expected results.

Supporting Evidence

Options are pricing a 20.26% move, indicating significant market expectations that may not align with actual performance.

The company's historical EPS beat rate of 100% suggests a strong track record of exceeding expectations.

Recent trends in the semiconductor industry indicate a rebound in demand that could favor ADI's growth.

Key Risk

If revenue growth exceeds 10%, it could challenge the cautious outlook currently held by analysts.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the debate centers around ADI's ability to sustain growth in a competitive semiconductor market while managing costs effectively.

Bull Confirmed If

Revenue growth of over 10% year-over-year would confirm the bull case and indicate strong demand.

Bear Confirmed If

A decline in gross margins below 60% would confirm the bear case and raise concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±20.26%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant move, suggesting that traders anticipate volatility around the earnings announcement.

Options are pricing ±20.3% while ADI has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

41.1%

Calls (142K)P/C Ratio: 0.96Puts (87K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Semiconductors

n=30

Fade rate: 4 of 9 (44%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ADI beats expectations and raises guidance, history suggests a potential stock increase of around 1.89% on the following day.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see limited movement.

Miss

Should ADI miss expectations, history indicates a potential decline of around 4.53% on the next trading day.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·2 sells

Members

House + Senate

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

R-GARichard Dean Dr McCormickRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on revenue growth in the automotive sector.
2Management's commentary on supply chain challenges and their impact on production.
3Insights into new product launches and their expected market reception.
4Discussion on competitive pressures and pricing strategies.
5Updates on strategic partnerships or acquisitions that could enhance growth.