Analog Devices Rises Into August 19 Print With Guidance Set at About $3.9 Billion in Revenue

ADI shares moved higher on August 17, 2026 heading into a fiscal third-quarter report scheduled for Wednesday, August 19, with a conference call at 10:00 a.m. Eastern. One clarification on the figure circulating in coverage: the roughly $3.9 billion attached to this quarter is Analog Devices' own revenue guidance, not an earnings target. Consensus adjusted EPS for the quarter sits near $3.34.

The setup is demanding because the prior quarter was strong. Analog Devices reported record fiscal Q2 revenue of $3.62 billion, up 37% year over year and ahead of expectations, then guided Q3 above the Street at about $3.9 billion with an operating margin near 39%. A company guiding to that margin at that growth rate has already told the market what good looks like, which limits the room for a modest beat to move the stock.

The bull case rests on industrial and communications infrastructure, the two end markets where analog content per system has been climbing as factory automation and high-speed data center interconnect build out. Those are also the segments that carry Analog Devices' richest margins, so mix matters as much as the headline number.

The read-through is in the guide, not the print. Watch fiscal Q4 revenue guidance, the industrial book-to-bill commentary, and whether management characterizes the current cycle as broad-based recovery or concentrated in AI-adjacent communications demand. A miss against the roughly 39% operating margin framing would matter more than a small revenue shortfall.

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