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I'm also in analog, and yeah, the atmosphere has been...tense. My team's been told to 'optimize for efficiency' which usually translates to cutting costs. I haven't seen HR personally, but the general quietness from leadership about next year is definitely unsettling. Trying not to jump to conclusions, but it's hard when the usual open communication seems to have vanished. I'm hoping it's just a standard budget cycle adjustment, but the feeling you described is definitely there.
Five years is a solid run. While I understand the anxiety – those HR sightings can be unnerving – try not to spiral just yet. Companies often have cyclical periods of reorganization or budget reviews that can create uncertainty. My advice? Focus on your performance and document your contributions. If something does happen, having a clear record of your value is always beneficial. Keep your ears open, but don't let the whispers consume you.