ANALOG DEVICES INC — Director's Dealing 2003

Nov 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANALOG DEVICES INC (ADI)
CIK: 0000006281
Period of Report: 2003-11-21

Reporting Person: STATA RAY (Director, CHAIRMAN)

Holdings (Non-Derivative)

Security	Shares	Ownership
Comm Stock-$.16-2/3 value	925014	Direct
Comm Stock-$.16-2/3 value	1108709	Indirect
Comm Stock-$.16-2/3 value	501632	Indirect
Comm Stock-$.16-2/3 value	2487588	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$39.060	2011-07-18	Comm Stock-$.16-2/3 value (3913)	3913	Direct
Non-Qualified Stock Option (right to buy)	$41.050	2012-01-22	Comm Stock-$.16-2/3 value (100000)	100000	Direct
Non-Qualified Stock Option (right to buy)	$19.890	2012-09-24	Comm Stock-$.16-2/3 value (75000)	75000	Direct
Non-Qualified Stock Option (right to buy)	$7.375	2007-02-20	Comm Stock-$.16-2/3 value (93334)	93334	Direct
Non-Qualified Stock Option (right to buy)	$7.375	2007-12-16	Comm Stock-$.16-2/3 value (106668)	106668	Direct
Non-Qualified Stock Option (right to buy)	$28.750	2009-11-30	Comm Stock-$.16-2/3 value (200000)	200000	Direct
Non-Qualified Stock Option (right to buy)	$44.500	2010-11-10	Comm Stock-$.16-2/3 value (150000)	150000	Direct

Footnotes

F1: The reporting person has consolidated the direct beneficial holdings ESPP, RSA and Others which had previously been reported separately.

F2: Since the statement for the month of November, 2002, the reporting person has incorrectly identified the trusts listed under Nature of Indirect Beneficial Ownership
1,108,709 are held directly by Mrs. Stata, 501,632 are held by Mrs. Stata as trustee FBO Mr. Stata's children and 2,487,588 are held by Mr. and Mrs. Stata, co-trustees of charitable lead trusts, with the remainder FBO Mr. Stata's children/grandchildren.

F3: On 11/21/03, the Trust sold 92,124 shares at $47.1636