SMT, PCB Electronics Industry News
  • SMTnet
  • »
  • Industry News
  • »
  • Fairstock HK Limited: Analog Devices Sees Revenue at High-End of Its Quarterly Forecast

Fairstock HK Limited: Analog Devices Sees Revenue at High-End of Its Quarterly Forecast

Jul 29, 2022

Analog Devices Inc. said revenue in the current period may exceed its previous forecast range, indicating that demand remains strong and downplaying concerns that customers are stockpiling inventory. 

Chief Financial Officer Prashanth Mahendra-Rajah said Tuesday that the chipmaker’s sales growth is trending toward the higher end of its guidance for the fiscal second quarter and may beat the target of $2.8 billion, plus or minus $100 million.

Longer-term, the company sees revenue growing in the range of 7% to 10%, Mahendra-Rajah said at an event for investors. The company remains confident it will be able to report gross margins, the percentage of sales remaining after deducting costs of production, of more than 70%, he said.

Analog Devices specializes in analog and embedded computing components, a sector led by Texas Instruments Inc. Analog chips convert real-world things like sound and pressure into electronic signals, and the rush to add automation to factory equipment and buildings has stirred new demand. The move toward driverless cars also is fueling the market.

Like many of its peers, the company has posted a surge in sales and earnings over the last 12 months as it rushed to fill orders from automakers and other customers desperate for supply and willing to pay more to get it. Revenue across the industry jumped 32% in February to $52.5 billion, according to the Semiconductor Industry Association. Sales of chips have increased more than 20% for 11 straight months.

Like other management teams, Analog Devices leadership is arguing that the chip industry is no longer primarily dependent on computer and smartphone demand. Semiconductors are used in many more devices -- ranging from industrial machinery to vehicles -- and that diversification makes companies much less vulnerable to the sudden drops in orders that have characterized its past, Mahendra-Rajah said. 

His boss, Chief Executive Officer Vincent Roche, also repeated a forecast being made by several industry CEOs that the semiconductor business, which took about 45 years to reach $500 billion in sales, will double in size to $1 trillion in total revenue over the next decade. 

Aug 04, 2022 -

Fairstock hk limited: Sony Sees Profit Rise Despite Waning Interest in Video Games

Aug 04, 2022 -

Fairstock hk limited: Industrial-chip makers are faring better as demand holds up

Aug 01, 2022 -

Fairstock HK Limited-Intel Debuts Data-Center Chips Aimed at Fending Off AMD

Aug 01, 2022 -

Fairstock HK Limited-Qualcomm Gives Lackluster Forecast, non-phone chip sales surge, but fall short of some estimates

Jul 29, 2022 -

Fairstock HK limited: Data-Center Chip Sales Fuel Upbeat Forecast of Advanced Micro Devices Inc

Jul 29, 2022 -

Fairstock HK Limited: Ambarella, Inc. Drops as Analysts See Risks From Chinese Tech Blacklist

Jul 28, 2022 -

Fairstock hk limited: Marvell Acquired Inphi for $10 Billion

Jul 28, 2022 -

Fairstock HK Limited: STMicro and GlobalFoundries Set to Announce French Chip Factory

Jul 27, 2022 -

Fairstock HK Limited: Texas Instruments' Rosy Forecast Counters Fears of Slowdown

Jul 27, 2022 -

Fairstock HK Limited: NXP Semiconductors Gives Bullish Forecast on Industrial and Auto Market Demand

10 more news from Fairstock hk limited »

Sep 23, 2024 -

Kurtz Ersa to Showcase Professional Rework for Large PCBs at SMTAI

Sep 23, 2024 -

MIRTEC to Exhibit Award-Winning AI-Based 3D AOI Technology at SMTA International 2024

Sep 23, 2024 -

Nihon Superior to Highlight TempSave Soldering Materials at SMTAI

Sep 23, 2024 -

KYZEN Combines Process Control & Chemistry for Stringent Reliability Standards at SMTAI

Sep 23, 2024 -

SMTXTRA to Showcase SMT Spares and Accessories Offerings Along with Advanced Repair, Maintenance, and Servicing Solutions at SMTAI 2024

Sep 23, 2024 -

Optimize Storage Efficiency with Inovaxe at SMTAI 2024

Sep 23, 2024 -

Come See KIC's Smart Reflow/Cure/Wave Ecosystem, "See where you're going. Know where you've beenTM", at SMTA International Expo 2024

Sep 23, 2024 -

North American EMS Industry Shipments Down 4.4 Percent in August

Sep 23, 2024 -

BTU to Feature Aurora with Aurora with Aqua Scrub Flux Management at SMTAI

Sep 23, 2024 -

PEMTRON to Showcase Front-line Inspection Solutions at TPCA Show 2024 in Taipei

See electronics manufacturing industry news »

Fairstock HK Limited: Analog Devices Sees Revenue at High-End of Its Quarterly Forecast news release has been viewed 586 times

  • SMTnet
  • »
  • Industry News
  • »
  • Fairstock HK Limited: Analog Devices Sees Revenue at High-End of Its Quarterly Forecast
Win Source Online Electronic parts

Facility Closure