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Analog Devices Blasts To New All-Time High After Q4 Beat

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Analog Devices, Inc. (NASDAQ: ADI) shares are trading higher by $4.00 at $73.82 in Tuesday's session. The catalyst for the rally to a new all-time-high is a Q4 beat of $0.16 along with $58 million beat for revenues. The company raised Q1 revenue guidance.

After a higher open, it had a brief dip to $72.94 before continuing its move higher. The ensuing rally took the issue to $74.87 before reversing course. That far exceeds its former all-time high that was made in June 2015 at $68.97.

The retreat off the highs came within $0.07 of the low for the day, only reaching $73.01. At this time, the issue is attempting to re-enter the $74 handle.

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