Analog Devices’ (ADI) fiscal first quarter earnings missed the Zacks Consensus Estimate by a couple of cents. Revenue missed the consensus by 2.1%. All except the automotive end market weakened for the company, although consumer was the weakest of all. Shares slumped 2.56% in response. While the guidance was also below our expectations, the commentary was more or less as we had expected going by earnings reports from other analog players, such as Linear Technology Corp (LLTC), Maxim Integrated Products (MXIM) and Texas Instruments (TXN). Revenue Analog Devices generated revenue of $648.1 million, which was down 9.5% sequentially, 11.0% year over year and just within management’s revenue guidance of $645-680 million (down 5-10% sequentially, down 7-12% year over year). Analog Devices had previously cautioned about a weak first quarter, due
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