By Micah Maidenberg
Analog Devices Inc. said it expects an adjusted profit of $1.10 a share at the midpoint of its forecast for its fiscal second quarter.
The chip maker also forecast quarterly revenue of $1.35 billion at the midpoint, but said the novel coronavirus outbreak caused it to lower the revenue outlook for the period by $70 million.
Analog said it raised its dividend by 15% for its fiscal first quarter, declaring a cash payment to shareholders of 62 cents a share.
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(END) Dow Jones Newswires
February 19, 2020 08:43 ET (13:43 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.