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.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peloton Stock Sinks as Subscribers Fall and Recall Costs Exceed ExpectationsThe company says the $40 million cost of a seat recall announced in May exceeded Peloton's initial expectations.
Read more »
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
Read more »
Meta is Apparently Phasing Out Photo and Video Sharing on Portal DevicesAll messaging features are being removed.
Read more »
Do smart devices spy on you?Are our smart devices watching and listening to us when we aren’t actively using them? Learn more here.
Read more »
Powering Ahead: Nobel-Winning Chemistry Unleashes Next-Generation Energy Storage DevicesFlexible polymers made with a new generation of the Nobel-winning “click chemistry” reaction find use in capacitors and other applications. Society’s increasing demand for high-voltage electrical technologies – including pulsed power systems, cars, electrified aircraft, and renewable energy appli
Read more »
School bus sinks into trench after water main breaksNo one was injured after one of the wheels of the bus sank into the collapsed trench.
Read more »