Analog Devices (NASDAQ: ADI) stock surged 6.71% in the pre-market session on Wednesday, following the company's impressive first-quarter fiscal 2025 results and announcement of robust shareholder returns.
The semiconductor company reported adjusted earnings per share of $1.63, beating analysts' estimates of $1.54 by a solid margin. Additionally, Analog Devices' revenue of $2.423 billion exceeded expectations of $2.358 billion, reflecting a 3.58% year-over-year decline but still outperforming projections.
Fueling the stock's rally, Analog Devices also announced an 8% increase in its quarterly dividend to $0.99 per share, payable on March 17, 2025. Furthermore, the company authorized an additional $10 billion for share repurchases, bringing the total remaining buyback authorization to a staggering $11.5 billion.
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