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ANALOG DEVICES, INC.

(ADI)
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Analog Devices : expects Maxim deal earnings boost to kick in earlier

09/08/2021 | 04:55pm EST

Sept 8 (Reuters) - Analog Devices Inc expects its takeover of Maxim Integrated Products to add to adjusted earnings six months ahead of its initial timeline, the U.S. semiconductor maker said on Wednesday.

Analog, which supplies sensors, data converters and signal processing products, expects the earnings boost twelve months after the deal closes. It also expects the deal to be neutral to adjusted earnings in fiscal 2022.

The accelerated timing was due to stronger business fundamentals, share repurchases and the realization of more than 40% of cost savings, the company said.

Analog on Tuesday announced a $2.5 billion accelerated share buyback program to be completed by the second quarter of 2022, bringing total repurchases to about $5 billion by the end of 2022.

The deal with Maxim, Analog's biggest, will boost its market share in automotive and 5G chipmaking and enable it to better compete with larger firms including Texas Instruments.

San Jose, California-based Maxim designs and manufactures analog chips used in cars and connected devices. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANALOG DEVICES, INC. 0.09% 180.79 Delayed Quote.22.41%
TEXAS INSTRUMENTS -0.10% 193.38 Delayed Quote.16.83%
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Analyst Recommendations on ANALOG DEVICES, INC.
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Financials (USD)
Sales 2021 7 287 M - -
Net income 2021 1 942 M - -
Net Debt 2021 4 085 M - -
P/E ratio 2021 37,5x
Yield 2021 1,48%
Capitalization 94 975 M 94 975 M -
EV / Sales 2021 13,6x
EV / Sales 2022 9,38x
Nbr of Employees 24 700
Free-Float 99,8%
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Mean consensus BUY
Number of Analysts 28
Last Close Price 180,79 $
Average target price 207,04 $
Spread / Average Target 14,5%
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Managers and Directors
Vincent T. Roche President, Chief Executive Officer & Director
Prashanth Mahendra-Rajah Chief Financial Officer & Senior VP-Finance
Raymond S. Stata Chairman
Daniel Leibholz Chief Technology Officer
Vivek Jain Senior VP-Global Operations & Technology
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