Analog Devices, Inc. (ADI.US) receives support from BNP Paribas after Q4 results, expected to see "broad growth" in 2026.

After Analog Devices, Inc. (ADI.US) semiconductor company announced better-than-expected performance earlier this week, BNP Paribas of France stated that the analog chip company is expected to achieve "broad growth" next year. Analyst David O'Connor wrote in a client report, "The robust performance and guidance indicate that, driven by demand in data centers and industrial sectors, combined with market share growth and favorable factors of sustained cyclical recovery, fiscal year 2026 is expected to show broad growth." O'Connor maintains an "outperform" rating on Analog Devices, Inc. semiconductors and has raised its target price from $300 to $310. O'Connor further analyzed that the performance shows that the company's performance in the industry cycle is better than its peers. "For fiscal year 2026, management is positive, with the company expecting broad growth driven by data center and industrial sectors, but taking a more cautious stance on the automotive sector due to tariffs and macroeconomic concerns." In addition to data center business driven by hyperscale data center operators, spending on artificial intelligence is stimulating growth in HBM4 memory demand, which in turn is driving an increase in demand for testing equipment. Analog Devices, Inc. semiconductor stock rose 2.34% on Wednesday.