on 23-Mar-2026 23 March 2026 Global Semiconductors and Semiconductor Capital Equipment Global Semiconductors and Semicap: Do you believe in Elon? David Dai, CFA +852 2918 5704 david.dai@bernsteinsg.com Qingyuan Lin, Ph.D. +852 2123 2654 qingyuan.lin@bernsteinsg.com Arpad von Nemes +1 917 344 8461 arpad.vonnemes@bernsteinsg.com Yipin Cai, CFA +852 2123 2669 yipin.cai@bernsteinsg.com Juho Hwang +852 2123 2632 juho.hwang@bernsteinsg.com Stacy A. Rasgon, Ph.D. +1 213 559 5917 stacy.rasgon@bernsteinsg.com Mark L ...

Key Takeaways Sandisk anchors AI data flow with NAND SSDs, scaling hyperscaler demand and pipeline.ADI enables AI infrastructure with power, signal and optical chips for efficient systems.SNDK trades at 4.65x sales vs ADI's 10.7x, signaling a valuation discount.Sandisk (SNDK) and Analog Devices (ADI) operate within the semiconductor ecosystem, both positioned to benefit from the rapid buildout of data-centric infrastructure. As AI workloads scale, data centers are being re-architected around higher storage ...

ab 19 March 2026 Global Research UBS Global I/O Semiconductors Automotive semis: Smooth sailing into 2026 but are clouds on the horizon? Broadly positive momentum, but recent China data creates risks Following Q4, we review the latest leading indicators and update our outlook for the automotive semiconductor market for 2026E and 2027E. Recent data suggest the cycle continues to gain momentum, with improving trends across both automotive and industrial end markets, as well as positive pricing news. That said ...

如果您希望可以时常见面，欢迎标星收藏哦~ 近日，全球半导体行业再度被一股涨价浪潮席卷。 作为全球半导体行业的风向标，国际头部厂商的涨价动作拉开本轮风暴的序幕，德州仪器、英飞 凌、恩智浦、安森美...等行业巨头纷纷出手，调价幅度、覆盖范围均呈现显著升级，共同折射出行 业当前的供需格局与成本压力。 TI：价格涨幅高达85% 德州仪器（TI）作为模拟芯片领域的绝对龙头，成为本轮涨价潮中力度最大的厂商之一。 据悉，TI于近期宣布将于2026年4月1日启动近一年内的第三轮调价，也是第二次全面涨价，此次 涨价覆盖所有客户及数字隔离器、隔离驱动芯片、电源管理IC等核心产品线，实现"全品类、全客 户"无死角覆盖，打破了以往大厂对头部客户的折扣惯例，足见其产能吃紧的程度。 TI本次涨幅区间更是达到15%-85%， 其中工业控制领域涨幅最高， 部分产品超过85% ，汽车电 子领域以18%-25%涨幅紧随其后，消费电子领域相对温和（5%-15%），凸显出TI对高毛利市场 的战略倾斜。 在此之前，TI已在2025年8月对旗下超过6万个料号的产品调价10%-30%，2026年初又针对工业控 制、汽车电子等领域再次调价，连续调价的背后， ...

公众号记得加星标⭐️，第一时间看推送不会错过。 全球半导体领导企业Analog Devices, Inc.3月19日宣布，其位于泰国的新先进制造工厂正式开业，进 一步强化其先进制造与测试能力，同时在亚太地区扩大具备韧性与可持续性的半导体生产。此次扩张 基 于 ADI 的 混 合 制 造 战 略 ， 该 战 略 利 用 其 内 部 工 厂 与 外 部 晶 圆 代 工 厂 / 外 包 半 导 体 封 装 与 测 试 （OSAT）合作伙伴的全球网络，提供具备韧性和高性能的解决方案。 泰国在ADI的全球制造网络中发挥关键作用，通过扩展公司版图，为多个市场客户提供所需的韧性、 灵活性和规模，从而支持长期增长。该新工厂被设计为一座智能、可持续的工厂，融合先进自动化、 数字化制造技术以及以效率和环境表现为导向优化的运营方式，从而能够更快响应需求，同时持续提 供客户在动态全球环境中所期望的质量、可靠性与性能。 ADI首席执行官兼董事长Vincent Roche（左）与ADI泰国董事总经理Wirat Sri-amonkitkul（右）出 席剪彩仪式，标志着ADI新先进制造工厂在泰国正式启用。 "泰国是ADI全球制造版图中的战略 ...

It has been about a month since the last earnings report for Analog Devices (ADI) . Shares have lost about 10.1% in that time frame, underperforming the S&P 500.But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Analog Devices due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Analo ...

Core Insights - All three major U.S. stock indices closed down over 1%, driven by investor concerns about persistent inflation and the Federal Reserve's decision to keep rates unchanged amid rising Middle East tensions and surging oil prices [1] - The February Producer Price Index (PPI) indicated that wholesale price increases are harder to control than anticipated, disappointing expectations for a smooth economic recovery [1] Dividend Growth Stocks - The appeal of high-beta growth stocks is diminishing, leading investors to favor steady dividend-growth stocks, which have a proven track record of increasing payouts and demonstrate balance sheet resilience [2] - Stocks with a strong history of year-over-year dividend growth can enhance portfolio resilience and offer greater potential for capital appreciation compared to simple dividend-paying or high-yield stocks [3] - Selected dividend growth stocks include Flowserve (FLS), Analog Devices (ADI), Broadcom (AVGO), NVIDIA (NVDA), and TIM S.A. (TIMB), which are considered solid choices for investment [3] Advantages of Dividend Growth - Stocks with a strong history of dividend growth belong to mature companies, providing a hedge against economic or political uncertainty and stock market volatility [4] - These stocks exhibit strong fundamentals, including sustainable business models, profitability, rising cash flows, solid liquidity, strong balance sheets, and attractive valuations [5] - Although these stocks may not have the highest yields, they have historically outperformed the broader market and other dividend-paying stocks [6] Selection Criteria for Stocks - Criteria for selecting dividend-growth stocks include: - 5-Year Historical Dividend Growth Greater Than Zero [7] - 5-Year Historical Sales Growth Greater Than Zero [7] - 5-Year Historical EPS Growth Greater Than Zero [7] - Next 3-5 Year EPS Growth Rate Greater Than Zero [7] - Price/Cash Flow Less Than Industry Median [8] - 52-Week Price Change Greater Than S&P 500 [8] Specific Stock Insights - Flowserve (FLS): Expected 2026 revenue growth of 6.3%, long-term earnings growth rate of 11%, and annual dividend yield of 1.13% [11] - Analog Devices (ADI): Anticipated 2026 revenue growth of 25.1%, long-term earnings growth rate of 19.4%, and annual dividend yield of 1.43% [13] - Broadcom (AVGO): Projected 2026 revenue growth of 58%, long-term earnings growth rate of 48.6%, and annual dividend yield of 0.82% [14] - NVIDIA (NVDA): Expected 2027 revenue growth of 60%, long-term earnings growth rate of 39.1%, and annual dividend yield of 0.02% [15] - TIM S.A. (TIMB): Forecasted 2026 revenue growth of 11.8%, long-term earnings growth rate of 20.8%, and annual dividend yield of 5.37% [16]

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? Developed alon ...

Investment Rating - The report indicates a strong growth potential in the AI server onboard power supply market, projecting it to exceed 100 billion by 2028 [4][39]. Core Insights - The onboard power supply is a critical component in the AIDC power architecture, responsible for supplying power to core loads such as AI chips. The market is expected to expand significantly due to increasing chip and server power consumption [4][7]. - Major players in the market include Vicor, MPS, Delta, Renesas, Infineon, ADI, and TI, all of which are enhancing their product offerings to capture market share [4][8]. - The transition towards modular power supplies, vertical power delivery (VPD), and high-voltage direct current (HVDC) systems is shaping the future of onboard power supply technology [21][32]. Market Overview - The global AI server onboard power supply market is projected to reach approximately 100 billion RMB (around 15.5 billion USD) by 2028, driven by the expansion of the AI market and increasing demand for server power [39][41]. - The report estimates that the value of onboard power supply for a single rack, such as the GB200 NVL72, is around 30,000 USD, highlighting the significant market potential [41][42]. Competitive Landscape - The competitive landscape is dynamic, with companies like Vicor leading the introduction of 48V component ecosystems, while MPS and Infineon are rapidly increasing their market presence through innovative power solutions [8][66][73]. - Vicor has faced challenges in maintaining market share due to capacity limitations and a closed technology system, while MPS has successfully integrated high-performance power solutions into the supply chain [48][66]. - Infineon is leveraging its expertise in power semiconductors to expand its server power offerings, with significant revenue growth expected in the coming years [73][80]. Technological Trends - The report highlights a clear trend towards modular power supplies, which offer improved efficiency and reduced footprint compared to traditional discrete power solutions [21][26]. - The shift to VPD is anticipated to replace traditional lateral power delivery (LPD) methods, significantly reducing power distribution network losses [28][32]. - The transition to HVDC systems is expected to enhance the efficiency of power delivery in data centers, with major companies like NVIDIA leading the charge towards higher voltage architectures [32][80].

Core Viewpoint - Goldman Sachs has raised price targets on three technology companies by 10% or more, indicating optimism about their future performance despite a broader market rotation away from technology stocks in 2026 [1]. Group 1: Price Target Increases - Analog Devices' price target was raised from $300 to $370, reflecting a significant upside potential for this semiconductor company [1]. - Applied Materials' price target increased from $310 to $390, highlighting its strong performance in the semiconductor capital equipment sector [1]. - Arista Networks' price target was raised from $165 to $188, suggesting it may offer the best entry point for investors seeking growth in networking solutions [1]. Group 2: Company Profiles - Analog Devices specializes in high-performance analog, mixed-signal, and digital signal processing technologies, with a diverse product portfolio that includes sensors and power management solutions [1]. - Applied Materials provides equipment and services for the semiconductor and display industries, operating in three segments: Semiconductor Systems, Applied Global Services, and Display [1]. - Arista Networks focuses on data-driven networking solutions for AI and data center environments, offering a range of products and subscription-based services [1].