Analog Devices Stock Pulls Back from Record Before Earnings

The stock boasts a strong post-earnings history

Laura McCandless

Deputy Editor

May 19, 2026 at 12:24 PM

Analog Devices Inc (NASDAQ:ADI) will report fiscal second-quarter earnings before the open on Tuesday, May 20. According to Zacks Research, analysts expect earnings of $2.89 per share on revenue of $3.51 billion, representing year-over-year growth of 56% and 33%, respectively.

Options traders are bracing for a sizable post-earnings move. The options pits are pricing in a next-day swing of 10.1%, nearly double the stock's historical earnings move of 5.4% over the last eight quarters. Analog Devices stock has leaned bullish after earnings lately, closing six of its last eight post-earnings sessions higher, including its last three.

The shares were last seen down 1.3% at $413.06, moving further from their recent May 13 record high of $435.72. Since the start of 2026, ADI is outperforming with a 52.5% lead.

ADI May 19

Analyst sentiment remains firmly bullish. Of the 32 brokerages in coverage, 23 carry a "strong buy" rating, compared to four "buy" ratings and just five "hold" ratings, with no "sell" or "strong sell" recommendations on the books. Elevated expectations could leave the shares vulnerable to bear notes, should earnings disappoint.

Sentiment in the options pits leans pessimistic ahead of the event. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ADI's 10-day put/call volume ratio of 1.55 ranks higher than 70% of annual readings.

It's also worth noting that the stock sports a Schaeffer's Volatility Scorecard (SVS) of 87 out of 100, suggesting the equity has consistently exceeded options traders' volatility expectations during the past year.

Follow @Schaeffers

The SEC Moves to End the $25,000 Day Trading Barrier

For years, this rule kept most traders on the sidelines. Now, the door is opening to a whole new wave of active traders.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.

+293% in the last 3 months*

👉 Sign up now to receive the next trade