** Shares of chipmaker Analog Devices ADI.O rise 3.2% to $398.60 premarket

** KeyBanc raises PT to $525 from $500 implying a 35% upside to stock's last close

** Brokerage says Q2 2026 bookings and demand are tracking above expectations, led by data center and industrial markets

** Says lead times, the wait time between placing an order and receiving the product, have increased from 12-16 weeks to about 24 weeks, with some ADI products stretching to 6 months

** "Supply remains increasingly tight as AI-related demand competes for non-AI analog capacity, driving continued price increases," KeyBanc says

** 29 of 34 brokerages rate stock "buy" or higher and 5 "hold"; their median PT is $450 - data compiled by LSEG

** Up to last close, stock up 42.3% YTD