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Analog Devices To Acquire Hittite Microwave

Semiconductor maker Analog Devices (ADI) announced on Monday that it has agreed to acquire Hittite Microwave (HITT) for $78 per share, a 29% premium over Hittite’s Friday closing price of 60.56. The company said the deal gives Hittite a total enterprise value of about $2 billion, its market cap minus cash. With about 31 million Hittite shares outstanding, the deal is valued near $2.4 billion. Hittite stock was up 29% in morning trading Monday,

Analog Devices EPS Beats, Revenue Growth A Concern

Analog Devices (ADI) turned in a mixed bag of results for its first quarter late Tuesday, leaving one analyst questioning the company’s near-term growth prospects. The company makes chips used in automobiles, which accounts for the bulk of its sales, as well as chips for the consumer and communications markets. Analog Devices stock was up more than 1% in afternoon trading in the stock market today, at a nearly 10-year high near 52. The company