Analog Devices Increases Share Repurchase Authorization to About $10 Billion
August 25 2021 - 3:35PM
Dow Jones News
By Stephen Nakrosis
Analog Devices Inc. on Wednesday said its board approved an
increase to the company's share buyback program of $8.5
billion.
With the increase, the company's buyback authorization is now
about $10 billion, Analog Devices said.
The company said it expects to fund repurchases through cash
from operation and from cash from the closing of the Maxim
Integrated acquisition.
Vincent Roche, the company's president and chief executive, said
"Today's announcement to significantly expand our share repurchase
program reflects the strength of our balance sheet and our ability
to generate robust cash flow."
The semiconductor company has a market cap of $61.07 billion,
368.21 million shares outstanding and a public float of 367.04
million shares.
-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
August 25, 2021 16:32 ET (20:32 GMT)
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