By Matt Grossman

Analog Devices Inc. on Monday raised and narrowed its earnings guidance for the third quarter.

The Norwood, Mass.-based engineering company said it now expects revenue for the quarter of $1.45 billion, plus or minus $30 million, compared with previous guidance of $1.32 billion, plus or minus $70 million. Analysts' consensus forecast had also anticipated revenue of $1.32 billion, according to FactSet.

Analog said it now expects earnings per share of 91 cents, plus or minus 7 cents, and adjusted earnings per share of $1.33 plus, or minus 5 cents. Its previous guidance was for earnings of 72 cents per share, plus or minus 11 cents, and adjusted earnings per share of $1.08, plus or minus 11 cents.

Analysts were also expecting adjusted earnings of $1.08 a share.

The company on Monday morning confirmed an earlier Wall Street Journal report that it plans to acquire Maxim Integrated Products Inc. in an all-stock deal next year.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 13, 2020 06:50 ET (10:50 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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