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NORWOOD, Mass. (AP) - Chip maker Analog Devices Inc. on Wednesday boosted its fourth-quarter revenue guidance to a 6 percent sequential rise, up from previous range of 1 percent to 4 percent growth, based on strong sales of digital signal processing devices.
Norwood, Mass.-based Analog also said it plans $69 million in charges in the fourth quarter to consolidate its wafer-making operations and to repatriate foreign income.
In after-hours trading, Analog's shares rose $2.01, or 6.1 percent, to $35.20. Earlier, the stock rose 18 cents to close at $33.19 on the New York Stock Exchange, near its 52-week low of $31.71.
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