For its second quarter 2023-24, Analog Devices reports adjusted EPS halved (-51%) to $1.40 and an adjusted operating margin down 12.2 points to 39%, on revenues down 34% to $2.16 billion.

We believe that inventory rationalization across our broad customer base is stabilizing, paving the way for a return to sequential growth in the third quarter", says Vincent Roche, CEO of the semiconductor manufacturer.

For the current quarter, he therefore forecasts revenues of 2.27 billion (plus or minus 100 million), an adjusted operating margin of around 40% (plus or minus 100 basis points) and adjusted EPS of $1.50 (plus or minus 10 cents).

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