A maker of high-performance analog and mixed-signal chips, Analog Devices builds the tiny sensors, converters, and power circuits found in cars, factories, phones, and medical gear, selling over 75,000 products to customers in dozens of countries. Two MIT graduates, Ray Stata and Matthew Lorber, started it in 1965 in a Cambridge apartment, naming it for its focus on analog signal processing. The company even invented a MEMS accelerometer—first funded for military use—that made modern airbags smarter and safer.
Analog Devices discloses unauthorized access to systems and data exfiltration on June 23, 2026.
The company engaged external cybersecurity experts and coordinated with law enforcement; operations were not interrupted.
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On June 23, 2026, Analog Devices, Inc. identified unauthorized access to certain company systems and activated incident response protocols.
The investigation found that certain files were exfiltrated, but the data has not been publicly released or used for fraudulent purposes to the company's knowledge.
The company does not believe the incident is reasonably likely to materially impact its business, operations, or financial condition.
Separately, on July 26, 2026, the company became aware of public reports regarding a disparate cybersecurity matter and is assessing its validity and impact.
Analog Devices enters $3.0B 364-day revolving credit facility
The facility matures on July 1, 2027, with options to extend annually and to convert outstanding loans to a term loan due one year after maturity.
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On July 2, 2026, Analog Devices, Inc. entered into a Credit Agreement providing a 364-day revolving credit facility of up to $3.0 billion.
Borrowings bear interest based on Term SOFR, Base Rate, or alternative currencies, with margins tied to the company's debt ratings.
The agreement includes customary covenants, including a minimum consolidated EBITDA-to-interest charge ratio of 3.00 to 1.00.
Bank of America, N.A. serves as Administrative Agent, with several other major banks as co-documentation agents and joint lead arrangers.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Analog Devices reports record fiscal Q2 2026 revenue of $3.62 billion, up 37% year-over-year.
GAAP diluted EPS was $2.40, up 111% year-over-year; adjusted diluted EPS was $3.09, up 67%.
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Revenue for the fiscal second quarter ended May 2, 2026 was $3.62 billion, a 37% increase from $2.64 billion in the prior-year quarter.
GAAP gross margin was 67.3% (up 630 bps) and adjusted gross margin was 73.0% (up 360 bps).
Operating cash flow was $5.1 billion and free cash flow was $4.6 billion on a trailing twelve-month basis, representing 40% and 36% of revenue, respectively.
For Q3 fiscal 2026, the company forecasts revenue of $3.9 billion ± $100 million, reported EPS of $2.60 ± $0.15, and adjusted EPS of $3.30 ± $0.15.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Analog Devices to acquire Empower Semiconductor for $1.5 billion in cash
The acquisition expands ADI's high-density power portfolio for AI, adding Empower's integrated voltage regulators (IVR) and silicon capacitor technology.
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Analog Devices, Inc. and Empower Semiconductor, Inc. announced a definitive agreement on May 19, 2026, for ADI to acquire Empower in an all-cash transaction valued at $1.5 billion.
The transaction is expected to close in the second half of calendar year 2026, subject to customary closing conditions, including the Hart-Scott-Rodino waiting period.
Empower's CEO Tim Phillips will continue leading IVR technology efforts as part of ADI after the closing.
The disclosure was made under Item 7.01 Regulation FD, with a joint press release furnished as Exhibit 99.1.
7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Analog Devices shareholders approve amended 2020 Equity Incentive Plan at 2026 Annual Meeting
All ten director nominees were elected, including Vincent Roche, Stephen M. Jennings, André Andonian, Edward H. Frank, Karen M. Golz, Peter B. Henry, Mercedes Johnson, Yoky Matsuoka, Ray Stata, and Andrea F. Wainer.
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At the March 11, 2026 Annual Meeting, shareholders approved the Amended and Restated Analog Devices, Inc. 2020 Equity Incentive Plan, which had been adopted by the Board on December 10, 2025.
Shareholders approved, on a non-binding advisory basis, the compensation of named executive officers (say-on-pay), with 370,540,311 votes for and 40,019,715 against.
Shareholders ratified Ernst & Young LLP as independent registered public accounting firm for fiscal year ending October 31, 2026.
A non-binding shareholder proposal regarding special meeting rights was not approved, with 253,421,562 votes against.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits
Analog Devices reports Q1 FY2026 revenue of $3.16B, up 30% YoY, and raises dividend 11%.
Fiscal Q1 2026 revenue was $3.16 billion, up 30% year-over-year, with growth across all end markets led by Industrial and Communications.
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GAAP diluted EPS was $1.69, up 117% year-over-year; adjusted diluted EPS was $2.46, up 51%.
Operating cash flow was $1.369 billion for the quarter and $5.054 billion on a trailing twelve-month basis; free cash flow was $1.259 billion and $4.560 billion, respectively.
The company returned $1.0 billion to shareholders in Q1 via dividends and share repurchases.
For Q2 FY2026, the company forecasts revenue of $3.5 billion ± $100 million, reported EPS of $2.19 ± $0.15, and adjusted EPS of $2.88 ± $0.15.
2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Analog Devices appoints Yoky Matsuoka to board, expands to 11 members
Dr. Matsuoka will also serve on the Corporate Development Committee and her term runs until the 2026 annual meeting on March 11, 2026.
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On January 20, 2026, Analog Devices increased its board to 11 members and appointed Yoky Matsuoka as an independent director, effective the same day.
Director Susie Wee informed the board on January 20, 2026, that she will retire and not stand for re-election at the 2026 annual meeting, with no disagreement on company matters.
Dr. Matsuoka will receive annual cash retainers of $100,000 for board service and $15,000 for committee service, prorated from her appointment date.
She is also entitled to a restricted stock unit award with a fair market value of $235,000 under the 2020 Equity Incentive Plan, vesting by the 2026 annual meeting or March 12, 2026.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits