ANALOG DEVICES INC — Director's Dealing 2003

Aug 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANALOG DEVICES INC (ADI)
CIK: 0000006281
Period of Report: 2003-08-21

Reporting Person: FULLER SAMUEL H (VP, RESEARCH & DEVELOPMENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-21	Comm Stock-$.16-2/3 value	M	3083	$8.9050	Acquired	3083	Indirect
2003-08-21	Comm Stock-$.16-2/3 value	S	3083	$38.8400	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-21	Non-Qualified Stock Option (right to buy)	$8.9050	M	3083	Disposed	2008-12-07	Comm Stock-$.16-2/3 value (3083)	Direct

Footnotes

F1: During the reporting period, the shares obtained from the options exercised were deferred into a deferred compensation plan trust and the reporting person's beneficial interest in the shares was subsequently disposed of in a discretionary transaction.