Shares of Analog Devices rose Wednesday after the chip maker reported better-than-expected fiscal first-quarter earnings and issued strong guidance for the current second quarter.

The company posted adjusted earnings of $2.46 a share for its fiscal first quarter, surpassing analysts' consensus estimates of $2.31, according to FactSet. Revenue totaled $3.16 billion, above Wall Street's call for $3.12 billion.

Analog Devices stock jumped 8% in premarket trading Wednesday. Shares had risen 24% in 2026 as of Tuesday's close of trading.

The company expects revenue of $3.4 billion to $3.6 billion and adjusted earnings per share of $2.73 to $3.03 in its fiscal second quarter. Analysts had forecast revenue of $3.24 billion and an adjusted profit of $2.46 a share.

Analog Devices, which makes analog chips found in a variety of consumer and industrial goods, has had an excellent start to the year alongside peers Texas Instruments, Microchip Technology, and KLA. Strong demand forecasts have boosted the sector, insulating it from the broader decline in tech stocks.