Analog Devices Share Repurchase Program Increases by $2 Billion
On August 21, Analog Devices, Inc. (ADI) announced that the company’s Board of Directors voted to reinstate their share repurchase program. The company’s existing share repurchase program started in 2004, and Analog Devices has repurchased $5.4 billion in stock since that time. This reinstatement increases the total authorization by an additional $2 billion.
At 5:00 pm, Sonal issued an alert to subscribers. The next trade took place at 5:03 pm for $95.55. The stock opened lower the next morning at $92.14. After a dip at the open, the stock price moved higher to close at $97.92. Analog Devices continued to increase over the next five trading sessions. The stock closed 8.7% higher at $100.17 on August 29.
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