Analog Devices Inc. has projected a stronger-than-expected third quarter, fueled by rising demand for its semiconductors across the automotive and industrial sectors. The chipmaker, based in Wilmington, Massachusetts, estimates third-quarter revenue of $2.75 billion, plus or minus $100 million—surpassing Wall Street’s average forecast of $2.62 billion, according to LSEG data.
The company also anticipates adjusted earnings of $1.92 per share, give or take 10 cents, exceeding analysts’ expectations of $1.83 per share. Following the announcement, Analog Devices’ stock gained 2.5% in premarket trading.
The analog semiconductor industry is gradually rebounding, with increased demand from industrial automation and the automotive market. Additionally, rising orders from consumer electronics, particularly devices enhanced with AI capabilities, are contributing to the recovery.
Peers such as Texas Instruments, Onsemi, and Microchip Technology have also maintained steady performances in recent quarters.
Analog Devices, which supplies chips to major players like Boeing and Siemens, serves diverse sectors including aerospace, industrial equipment, and consumer technology. For the second quarter ended April 30, the company posted a 22% revenue increase to $2.64 billion, beating analyst expectations of $2.51 billion.
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News Source: Finance.yahoo.com
