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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Alex Dav Inv. | LSE:ADI | London | Ordinary Share | GB00B28XMY25 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0575 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
DOW JONES NEWSWIRES
Analog Devices Inc. (ADI) cut its fiscal first-quarter guidance because of weak demand from consumers and customers' cuts in their inventories.
Shares fell more than 6% after hours, though recently they were back up to $18.77, unchanged from the Tuesday closing price. The stock price has fallen 48% since its 52-week high in May.
The announcement is one of a long line of chip makers' predictions of large drops in sales as the market for computers and other consumer electronics soured amid a sharp drop in discretionary spending last fall.
Analog Devices now expects earnings from continuing operations of 15 cents to 17 cents a share, excluding restructuring charges, and a revenue decline of 25% to 30% sequentially.
In November, the semiconductor maker had predicted earnings from continuing operations of 22 cents to 23 cents a share, excluding restructuring charges, and revenue down about 20% sequentially.
Analysts' latest estimates were for per-share earnings of 22 cents on revenue of $520.7 million, according to a poll by Thomson Reuters.
Analog Devices expects to report fiscal first-quarter results Feb. 18.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.
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