Analog Devices Unleashes $2.5B Accelerated Share Repurchase, Raises Q4 Revenue Outlook

  • Analog Devices Inc ADI forged multiple accelerated share repurchase (ASR) agreements to repurchase up to $2.5 billion of shares.
  • The company plans to complete ASR agreements under its current share repurchase authorization, with $10 billion remaining.
  • Analog Devices raised its Q4 revenue guidance from $1.71 billion - $1.85 billion to $2.23 billion - $2.37 billion, versus the consensus of $2.26 billion. The new guidance reflects synergies from the Maxim Integrated Products, Inc acquisition.
  • The company reduced the Q4 adjusted EPS outlook from $1.61 - $1.83 to $1.60 - $1.78 against the consensus of $1.65.
  • Price Action: ADI shares closed higher by 0.51% at $163.27 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsGuidanceBuybacksTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!