J P M O R G A N North America Equity Research 16 December 2025 Semiconductors/Semi Cap Equipment 2026 Outlook: Expect Another Year Of Stock Outperformance; Continued Strong AI Spending And Accelerating Cyclical Recovery In Industrial/Auto; Favor AVGO, MRVL, ADI, MU, KLAC, SNPS Heading into 2026, we maintain our view that long-term investors should continue to focus on the multiyear (1,3, 5,10,15, 20-year) track record of semis stock outperformance driven by (1) the crucial role semis play in the tech value ...

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资源链接等， 我会分享在朋友圈 。 涨价 到底 啥 情况 ？ 扫码加我本人微信 本周上半周，ADI的涨价函开始刷屏。 这几天已经有不少分销商朋友 在 社交媒体 上 转发 ，提醒 客户 做好 备货 准备 ， 提前 安排 采购计划。 通过 本文 ， 你 将 了解 ： ADI 涨价 到底 是 什么 情况 ？原厂表现如何？目前 ADI 芯片 现货市场 有 啥 变化 ？ 01 来源：读者朋友圈，以官宣为准 通知函全文翻译： 2025 年 12 月 17 日 尊敬的分销合作伙伴： 我们特此致函，通知您 Analog Devices （ADI） 即将进行的一项价格调整。此次调价主要是由于原材料、人工、能源及物流等方面持续存在的 通胀压力所致。新的价格将适用于 2026 年 2 月 1 日 起发运的订单 。 作为我们重视的分销合作伙伴，我们希望通过提前通知的方式，协助您平稳应对本次调整。此外，我们也将向您提供相应的对外沟通口径，供 您在与通过贵司渠道开展业务的 ADI 客户沟通时使用。 ADI 销售团队将负责向 ADI 直 ...

Group 1 - The core viewpoint of the article is that Analog Devices Inc. (ADI) plans to implement a price increase of approximately 15% across its entire product range starting from February 1, 2026, with specific increases for military-grade products potentially reaching up to 30% [2][3] - The price adjustment is attributed to ongoing inflationary pressures in raw materials, labor, energy, and logistics [3][5] - ADI's recent financial performance shows a strong recovery in the analog chip market, with a 26% year-over-year revenue growth to $3.076 billion for the fourth quarter of the 2025 fiscal year, exceeding analyst expectations [3][4] Group 2 - ADI's CEO, Vincent Roche, highlighted growth across various industrial sectors, driven by cyclical momentum improvements and strong structural trends in artificial intelligence (AI), automation, and efficient power distribution [4] - The price increase will apply to all unshipped orders, while already shipped orders will be honored at the original price [3][6] - ADI will provide a detailed list of affected product models and customer-specific pricing updates by the end of 2025 [3][6]

Analog Devices, Inc. ( ADI ) is set up for strong secular growth over the coming years as investments across the AI data center value chain pick up. From power generation, transmission, and distribution, to power management at theMonte Independent Investment Research: Michael Del Monte is a buy-side equity analyst with expertise in the technology, energy, industrials, and materials sectors. Prior to working in the investment management industry, Michael spent over a decade in professional services working a ...

Core Viewpoint - Analog Devices, Inc. (ADI) is positioned for significant secular growth in the coming years due to increasing investments across the AI data center value chain [1] Group 1: Company Overview - ADI is expected to benefit from investments in power generation, transmission, distribution, and power management [1] Group 2: Analyst Background - Michael Del Monte, the analyst, has over a decade of experience in various sectors including technology, energy, and industrials [1]

Analog Devices, Inc. (NASDAQ:ADI) is included among the 12 Best Long Term US Stocks to Buy Now. BofA Raises Analog Devices (ADI) Target, Sees Long AI-Driven Upgrade Cycle Ahead Image by Alexsander-777 from Pixabay On December 16, BofA raised its price target on Analog Devices, Inc. (NASDAQ:ADI) to $320 from $290 and kept a Buy rating. The move came as the firm refreshed price targets across its US semiconductor coverage. BofA sees 2026 as a midpoint in a long upgrade cycle. Think eight to ten years of ...

Group 1 - The core viewpoint of the article is that Jingce Electronics has signed deep cooperation agreements with five leading companies in various sectors, focusing on technology integration and resource sharing to enhance testing solutions for the semiconductor, display, and new energy industries [1][2][4]. Group 2 - The cooperation will cover the entire industry chain from materials, devices, and equipment to industry solutions, aiming to optimize systematic testing solutions through technological innovation and product iteration [2]. - The five partners include leading firms in their respective fields: - Shengbang Microelectronics specializes in high-performance analog and mixed-signal integrated circuits for industrial automation, new energy, and automotive electronics [2]. - Analog Devices provides data converters and sensor technologies, widely used in digital healthcare and industrial automation [2]. - Hefei Aiko Optoelectronics manufactures key components for industrial imaging, including industrial cameras and image acquisition cards [4]. - Inovance Technology operates in industrial automation control and new energy equipment, with a product line that includes servo systems and industrial robots [4]. - SMC Automation focuses on the development and manufacturing of pneumatic components, serving automation lines in the semiconductor, automotive, and electronics industries [4]. - Jingce Electronics aims to strengthen its core competitiveness and build an open industrial ecosystem through this collaboration, continuing its focus on the semiconductor and display sectors while empowering the new energy field [4].

Analog Devices, Inc. (NASDAQ:ADI) is included among the 15 Best Blue-Chip Stocks with Growing Dividends. UBS Lifts Analog Devices (ADI) Target, Keeps Buy Rating Photo by Vitaly Taranov on Unsplash On December 8, UBS analyst Timothy Arcuri raised his price target on Analog Devices, Inc. (NASDAQ:ADI) to $320 from $280, keeping a Buy rating on the shares. In its fiscal Q4 2025 report, Analog Devices, Inc. (NASDAQ:ADI) showed solid growth. Revenue and earnings per share both came in above the midpoint of e ...

Analog Devices (ADI) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this semiconductor maker, should get reflected in its stock price. After all, empirical research shows a strong correlation between tren ...

Investment Rating - The report maintains a positive stance on the analog semiconductor sector, indicating a recovery in the automotive semiconductors market [2][7]. Core Insights - The automotive semiconductor market is projected to experience a revenue decline of -5% YoY in 2025E, an improvement from the previous estimate of -7% YoY, with a subsequent growth of +11.6% in 2026E [4][23]. - Analog revenue growth has returned to positive levels, with Q3'25 showing a 5% YoY increase, and expectations for Q4'25 to grow by 11% YoY [3][4]. - AI is emerging as a growth driver, contributing 5-10% of revenues, with significant increases in AI-related revenues anticipated for major players [5]. Summary by Sections Automotive Semiconductors - The automotive semiconductor revenue is expected to decline by -5% YoY in 2025E, improved from -7% previously, and is projected to grow by +11.6% in 2026E [4][23]. - China’s automotive semiconductor demand is forecasted to grow by 9% YoY in 2025E, down from 21% in 2024, indicating a normalization trend [6][28]. Analog Semiconductors - Analog revenue growth has shown positive momentum, with Q3'25 revenue up 5% YoY, and projections for Q4'25 to grow by 11% YoY [3][4]. - Industrial revenues are expected to grow by 10.8% YoY in 2025E, with a forecast of +14.5% YoY for 2026E [4]. AI and Growth Drivers - AI is becoming a significant growth driver, with major companies like Infineon and TI reporting substantial increases in AI-related revenues [5]. - Infineon anticipates AI revenue to rise from $860 million in FY'25E to $1.7 billion in FY'26E [5]. Regional Insights - The report indicates that while China’s growth is moderating, it remains a key market, with expectations of 6% growth in 2026E compared to 8% for non-China regions [6][28]. - Year-to-date, China’s car volumes grew 13% YoY, with NEV (New Energy Vehicle) volumes up 31% YoY [6]. Sector Preferences - The report highlights a preference for analog semiconductors, which are currently trading at approximately 20x P/E for 2026E, compared to a 10-year average of 19x [7]. - Preferred stocks include TI, IFX, and Renesas, while ON and Melexis are rated Neutral [7].