News Formal

Analog Devices Stock Sinks on Weak Outlook. It’s Bad News for Chip Stocks.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Analog Devices shares dropped on Wednesday after its quarterly guidance missed analysts' expectations. Other semiconductor companies with big industrial and...

Analog Devices shares were sinking early on Wednesday after the chip manufacturer gave disappointing guidance. It’s a warning that sent jitters through the semiconductor sector.

Analog Devices was expected to report earnings of $2.52 a share on revenue of $3.10 billion according to a FactSet poll of analysts’ estimates. For its fourth quarter Analog Devices forecast adjusted earnings per share of $2.00, plus or minus 10 cents, and revenue of $2.70 billion, plus or minus $100 million. That was below analysts’ previous expectations of adjusted EPS of $2.40 on revenue of $3.01 billion, according to FactSet.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: Most stock markets rise on technology stocks recoveryThe Asian stock markets experienced an uptick on Tuesday propelled by the rebound of technology stocks. However, concerns regarding the tightening of
Source: FXStreetNews - 🏆 14. / 72 Read more »