Analog Devices (NASDAQ:ADI) reported stronger-than-expected quarterly results, highlighting growth in industrial and communications markets, with a positive outlook for AI, aerospace, and automation. JP Morgan analyst Harlan Sur raised the price forecast to $310, citing a strong recovery and secular drivers, projecting fiscal 2026 EPS of ~$8.85.

Sur noted July-quarter revenue rose 9% Q/Q to $2.88 billion, beating consensus, with EPS at $2.05 vs. $1.95 expected. Growth was broad-based, with industrial up 11% Q/Q, communications up 18% Q/Q, and consumer up 17% Q/Q. Automotive stayed flat sequentially but increased 23% Y/Y.

For the October quarter, ADI guided revenue to $3.0 billion, with EPS of $2.22 and operating margin of 43.5%. Industrial is expected to lead growth, while automotive may decline slightly. Sur highlighted ADI’s structural growth engines in aerospace & defense, AI/datacenter opportunities, and industrial automation tailwinds.

ADI stock is trading higher by 1.73% to $249.04.

Read more at Yahoo Finance: Analog Devices Unlocks New Growth Engines In AI, Aerospace, And Robotics