Analog Devices Hit With $267 Million Tax Adjustment From IRS

American semiconductor company Analog Devices Inc. plans to dispute a $267 million tax adjustment issued by the IRS over the company’s transfer pricing arrangements, the company reported in a financial filing Thursday.

Analog Devices received the adjustment in the second quarter of its fiscal year, and said it “firmly disagrees with this assessment and maintains that its transfer pricing is appropriate.”

The IRS is seeking $267 million, not including penalties or interest, for the company’s transfer pricing arrangements with one of its foreign subsidiaries for fiscal years 2018 and 2019.

• The company said it hasn’t ...