Analog Devices reported fiscal first-quarter earnings and revenue that topped Wall Street forecasts and shares of the microchip maker edged higher Wednesday.
Analog Devices (ticker: ADI) earned an adjusted $1.94 a share in the quarter on revenue of $2.68 billion.
Analysts surveyed by FactSet expected earnings from Analog Devices (ticker: ADI) of $1.80 a share on sales of $2.61 billion. A year earlier, Analog Devices earned $1.44 a share on revenue of $1.56 billion.
Adjusted operating margin in the quarter was 45.8%, up from 40.7% a year earlier.
Analog Devices said it expects second-quarter revenue of $2.8 billion, plus or minus $100 million. It forecasts adjusted earnings of $2.07 a share, plus or minus 10 cents.
Analysts expect second-quarter revenue of $2.66 billion and adjusted earnings of $1.86 a share.
Analog Devices raised its quarterly dividend to 76 cents a share from 69 cents.
The stock rose 0.9% to $163.43 on Wednesday.