Goldman Sachs Raises Analog Devices Price Target to $300
Goldman Sachs reaffirmed its "Buy" rating for Analog Devices Inc. (NASDAQ:ADI) on November 25, 2025, increasing its price target to $300 from $285. This decision reflects confidence in the semiconductor company's performance, which reported record fiscal year revenue of $11 billion USD and free cash flow exceeding $4 billion USD.
Analog Devices, a leader in analog, mixed-signal, and power technologies, reported a 17% increase in fiscal year revenue compared to the previous year. The company's gross margin improved to 69.3%, an increase of 140 basis points year-over-year, while its operating margin rose to 41.9%, up by 100 basis points. These figures underscore ADI's effective cost management and top-line growth.
The company generated a record free cash flow of $4.3 billion USD for the fiscal year, representing 39% of its revenue. Analog Devices returned over $4 billion USD to shareholders, including $2.2 billion USD in share repurchases and $1.9 billion USD in dividends, demonstrating its commitment to shareholder value. Significant investments in research and development have also strengthened its leadership in key technology areas, boosting average selling prices for new products.
On November 25, 2025, ADI's stock was priced at $252.02 USD. The company faces ongoing challenges from the uncertain macroeconomic environment and tariffs. Analog Devices competes with other major semiconductor firms such as Texas Instruments and NXP Semiconductors. The company's market capitalization is approximately $124.95 billion USD. For more information on the company's financial standing, see ADI financial health. Details on its strategic direction are available at ADI mission and vision, and an investor profile is outlined in ADI investor profile.
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