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Analog Devices Sees Fiscal 2Q Adjusted Profit of $1.10 At Midpoint

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.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

February 19, 2020 08:43 ET (13:43 GMT)

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