On July 9, Analog Devices rose 3.26% in regular trading, trading at $393.68/share, with turnover of $85.14 million. The rally was driven by a dual catalyst: Cantor Fitzgerald raised its price target on ADI from $510 to $550, representing the highest among recent investment bank upgrades, while the company simultaneously announced the completion of its acquisition of Empower Semiconductor, expanding its footprint in AI computing power delivery.

The move marks a rebound from a 3.2% decline on July 7 triggered by a global semiconductor selloff following Samsung Electronics' sell-the-news event. The current recovery reflects multiple converging tailwinds: ADI recently notified customers that lead times for certain products have extended to six months, signaling tightening supply-demand dynamics. Wells Fargo and Stifel had previously raised their targets to $515 and $498 respectively, all maintaining buy-equivalent ratings, reflecting broad institutional optimism on the analog chip cycle recovery and AI-driven demand expansion.

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