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

by Anusuya Lahiri, Benzinga Editor

September 8, 2021 6:23 AM | 1 min read |

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.

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