Chipmaker Analog Devices rises; KeyBanc raises PT
ADI•KeyBanc lifts price target as demand trends stay strong
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Shares of chipmaker Analog Devices ADI.O rise 3.2% to $398.60 premarket
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KeyBanc raises PT to $525 from $500, implying a 35% upside to the stock's last close
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The brokerage says Q2 2026 bookings and demand are tracking above expectations, led by data center and industrial markets
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It says lead times, the wait time between placing an order and receiving the product, have increased from 12-16 weeks to about 24 weeks, with some ADI products stretching to 6 months
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"Supply remains increasingly tight as AI-related demand competes for non-AI analog capacity, driving continued price increases," KeyBanc says
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29 of 34 brokerages rate the stock "buy" or higher and 5 "hold"; their median PT is $450, data compiled by LSEG
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Up to the last close, the stock was up 42.3% year to date
