Screened 2026-09-08 · the tape above runs as of 23:00 UTC · 18 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Analog Devices holds its Markdown at $363.20. The statistical read favours the sellers, held for 234 days.
As held on the ledger · 2026-09-08
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 234 days
Price at the screen
$363.20
Valuation
43.24 trailing · 22.23 forward price to earnings
Values screen
PASS· score 87.8
Beta
1.21
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
18.05%
Below 33%
Interest-bearing debt is just 18.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
2.40%
Below 33%
Cash held in interest-bearing accounts and securities is 2.4% of assets, under the one-third limit.
Pass
Receivables
8.20%
Below 49%
Money owed to the company is 8.2% of assets, under the 49% limit.
Pass
Revenue purity
0.96%
Below 5%
Only 1.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads FAIR VALUE: it trades above our $299.52 fair value estimate, narrow competitive moat, 39.60% revenue growth.
Fair value range in USD, drawn from the 2026-09-08 screen. The gold marker is the market price at the same screen. The price runs 17.5% above the base estimate.
Third-party analyst targets: 32 covering, consensus Strong Buy. The average target sits +27% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-08 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Silicon Surge with a Shadow of a Cyclical Past
Imagine a world where every piece of tech, from smartphones to cars, requires the meticulous conversion of analog signals into digital language. Analog Devices sits at the heart of this transformation, crafting the chips that make it happen. Its revenue growth is a robust 40%, a testament to its success in this increasingly digital world. Why it stands out. Despite this impressive figure, we peg the fair value at $300.21, a discount to the current price of $370.24, signaling a generous margin of safety at -19%.
However, the forward P/E of 22.7x and the company's narrow moat width should prompt caution, especially considering the cyclical nature of the semiconductor industry. Profit margins are commendable at 30%, and the ROE sits at a less eye-catching 12%. The consensus among 30 analysts is a strong buy, with a lofty median target of $462, yet we must approach such optimism with the knowledge that peak earnings in cyclical industries can often lead to a value trap.
The ethical screen gives the green light, and while the numbers tell an intriguing tale, the risk is not negligible. With the industry's cyclical swings, the current high revenue growth could be a temporary peak, making the stock appear cheaper than it might actually be in the long run. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ADI trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-18Markdown · changed$363.20-3.8%Entry 13
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.8% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446.
2026-08-19Markup$377.69+0.0%Entry 12
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-18Markup · changed$377.69+0.0%Entry 11
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-16Distribution$377.69+0.0%Entry 10
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-15Distribution$377.69+0.0%Entry 9
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-13Markup$377.69+0.0%Entry 7
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-12Markup · changed$377.69+0.6%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.6% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-20Distribution$375.36-6.5%Entry 5
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.5% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446.
2026-07-18Distribution$401.39+0.0%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 71%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (31 analysts) rates it buy, with a mean price target of $446.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
