Analog Devices Stock Rises as It Sees Recovery in Chip Sector

Key TakeawaysAnalog Devices beat third-quarter profit and sales estimates as it sees the slump in the chip sector ending.The company posted sequential gains in revenue from its Industrial, Consumer, and Communications units.CFO Richard Puccio said better customer inventory levels and gains in orders point to a recovery. Analog Devices (ADI) shares advanced in intraday trading Wednesday after the semiconductor maker posted better-than-expected results as it benefited from a rebound in the industry. The compa ...