Analog Devices strong Q1 results, guidance lead analog chips higher
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Analog Devices (NASDAQ:ADI) rose more than 4% in premarket trading on Wednesday after the analog semiconductor company reported better-than-expected first-quarter results and guidance.
For the period ending January 28, Analog Devices (ADI) earned an adjusted $2.75 per share on $3.25B in revenue, up 21% year-over-year. Analysts were looking for $2.60 per share in earnings and $3.15B in revenue.
Analog Devices (ADI) CEO and Chair Vincent Roche attributed the company's performance to "resilient" demand in industrial and automotive markets, along with continued momentum in areas such as automation and electrification.
Looking to the second-quarter, Analog (ADI) expects revenue to be between $3.1B and $3.3B, topping the analyst consensus of $3.03B.
It also expects operating margins of around 34.7%, plus or minus 130 basis points and adjusted operating margin of 51%, plus or minus 70 basis points. 
Analog Devices (ADI) forecasts adjusted earnings per share to be between $2.65 and $2.85, compared to analysts' expectations of $2.42 per share.
Competitors Texas Instruments (TXN) and NXP Semiconductors (NXPI) rose fractionally in premarket trading following the results from Analog Devices (ADI).
On Tuesday, Analog Devices (ADI) said it was raising its quarterly dividend 13.2% to 86-cents-per-share, payable on March 8 to shareholders of record as of February 27.