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00:02Analog Devices is drawing bullish analyst commentary as AI data center demand accelerates
00:08and semiconductor strength and margins improve, according to Benzinga.
00:12Fiscal third quarter revenue rose 40% year over year to $4.02 billion,
00:18topping the $3.92 billion consensus estimate and surpassing $4 billion for the first time.
00:25JP Morgan reiterated an overweight rating and raised its price forecast to $500,
00:29while TD Cowan maintained a buy rating and $460 target.
00:34JP Morgan said data center revenue could nearly double to about $1.9 billion in fiscal 2026
00:41and approach $3 billion next year as AI demand accelerates.
00:45Communications revenue surged 84%, industrial rose 53%, and automotive increased 16%.
00:53Analog Devices guided fourth quarter revenue to $4.3 billion
00:56and expects gross margin of about 74%.
00:59Shares rose 1.21% Thursday, according to Benzinga Pro data.
01:04For all things money, visit Benzinga.com.
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