Market Overview

Analog Devices Reinstates Share Repurchase Program; Increases Authorization by $2 Billion


Analog Devices, Inc. (NASDAQ:ADI), the leading global high-performance
analog technology company, today announced that it has reinstated its
share repurchase program, and that its Board of Directors has authorized
the Company to repurchase an additional $2 billion of its common stock.

Vincent Roche, President and CEO, said "Today's announcement reflects
our confidence in ADI's strong performance and the successful execution
of our strategy. I am pleased that we have achieved our 2x leverage
ratio goal ahead of plan, allowing us to enhance our capital returns to
shareholders through both our quarterly dividend and share repurchases."

"Our goal is to continue delivering broad revenue growth and generate
strong cash flow to enable us to invest in the business, grow our
capital returns, and deliver shareholder value for years to come."

Analog Devices commenced its common stock repurchase program in fiscal
year 2004, and since then the Company has repurchased a total of
approximately $5.4 billion of its common stock. Under the program, the
Company may repurchase outstanding shares of its common stock from time
to time on the open market or through privately negotiated transactions.
ADI management will determine the timing and amount of shares

ADI's management will discuss its updated capital allocation strategy on
its regularly scheduled conference call regarding third quarter fiscal
2018 results, which will take place Wednesday, August 22, 2018 at
10:00 am ET.

About Analog Devices

Analog Devices (NASDAQ:ADI) is the leading global high-performance
analog technology company dedicated to solving the toughest engineering
challenges. We enable our customers to interpret the world around us by
intelligently bridging the physical and digital with unmatched
technologies that sense, measure, power, connect and interpret. Visit

Forward Looking Statements

This press release contains forward-looking statements, which address
a variety of subjects including, for example, our statements regarding
the Company's capital allocation strategy and expected capital returns
to shareholders, including quarterly dividends and share repurchases,
expected revenue growth, investment strategy and cash flow generation,
and other financial results and objectives. Statements that are not
historical facts, including statements about our beliefs, plans and
expectations, are forward-looking statements. Such statements are based
on our current expectations and are subject to a number of factors and
uncertainties, which could cause actual results to differ materially
from those described in the forward-looking statements. The following
important factors and uncertainties, among others, could cause actual
results to differ materially from those described in these
forward-looking statements: any faltering in global economic conditions
or the stability of credit and financial markets, erosion of consumer
confidence and declines in customer spending, unavailability of raw
materials, services, supplies or manufacturing capacity and changes in
geographic, product or customer mix. For additional information about
factors that could cause actual results to differ materially from those
described in the forward-looking statements, please refer to our filings
with the Securities and Exchange Commission ("SEC"), including the risk
factors contained in our most recent Quarterly Report on Form 10-Q and
Annual Report on Form 10-K. Forward-looking statements represent
management's current expectations and are inherently uncertain. Except
as required by law, we do not undertake any obligation to update
forward-looking statements made by us to reflect subsequent events or

Analog Devices and the Analog Devices logo are registered trademarks or
trademarks of Analog Devices, Inc. All other trademarks mentioned in
this document are the property of their respective owners.


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