Why Are Maxim Integrated Shares Trading Higher Today?

The China State Administration for Market Regulation issued an antitrust clearance for chipmaker Analog Devices, Inc's ADI proposed acquisition of peer Maxim Integrated Products, Inc. MXIM.
It is a big win amid a rigorous global regulatory environment that saw roadblocks to NVIDIA Corp's NVDA Arm deal.
Analysts have also hailed the arrangement amid the intense chip crisis environment, which is likely to persist beyond 2021.
Strong end-markets drove Analog Devices' Q3 revenue of $1.8 billion, up 20.8% year-on-year, beating the consensus of $1.71 billion.
Price Action: ADI shares traded higher by 1.78% at $169.60, and MXIM shares traded higher by 4.82% at $106.55 in the premarket session on the last check Monday.