Investment Rating - The report assigns a strong buy rating for Analog Devices, Inc. (ADI) based on its robust performance and growth prospects [2][3]. Core Insights - The company reported revenue of $2.88 billion for FY2025Q3, representing a year-over-year increase of 24.57% and a quarter-over-quarter increase of 9%, exceeding guidance [3][13]. - Adjusted gross margin for FY2025Q3 was 69.2%, with adjusted EPS at $2.05, reflecting a year-over-year increase of 29.75% [3][13]. - All four business segments achieved double-digit growth, indicating strong overall performance [3][4]. Revenue Breakdown - **Industrial Segment**: Revenue of $1.285 billion (45% of total revenue), YoY growth of 22.94%, driven by recovery across all sub-industries and regions, particularly in automated test equipment due to increased AI investments [4][12]. - **Automotive Segment**: Revenue of $850 million (30% of total revenue), YoY growth of 22.45%, supported by leading connectivity and functional safety power solutions [4][18]. - **Communications Segment**: Revenue of $372 million (13% of total revenue), YoY growth of 40.38%, with strong performance in wired and data center businesses due to ongoing AI demand [4][18]. - **Consumer Segment**: Revenue of $372 million (13% of total revenue), YoY growth of 21.17%, benefiting from strong performance in mobile, gaming, audio, and wearable devices [4][18]. Company Guidance - For FY2025Q4, the company expects revenue between $2.9 billion and $3.1 billion, representing a YoY increase of 18.7% to 26.9% [5][16]. - Adjusted EPS is projected to be between $2.12 and $2.32, reflecting a YoY increase of 26.9% to 38.9% [5][16].