may 24 reuters  analog devices inc adio said on wednesday that a turbulent economy would weigh on its thirdquarter results sending the chipmakers shares down more than 5 in premarket trading the company forecast thirdquarter revenue of 310 billion plus or minus 100 million the midpoint of which was lower than analysts estimates of 316 billion according to refinitiv data analog devices also said it expects currentquarter adjusted profit of 252 per share plus or minus 10 cents below estimates of 265 per share the dour forecast mirrors the weakness seen at peer texas instruments inc txno last month with the chip industry struggling to shake off a slump that has led to a pileup of inventory looking to the second half we expect revenue to moderate given the continued economic uncertainty and normalizing supply chains analog devices chief executive vincent roche said on wednesday resilient demand from the industrial and automotive sectors helped the companys secondquarter revenue rise 10 to 326 billion beating estimates revenue at the companys industrial segment which accounts for more than half of analog devices revenue rose 16 while the automotive segments revenue increased 24 the company earlier in may said that it would invest 630 million euros 69350 million in a new research and development and manufacturing plant in ireland as it looks to boost its production capacity in europe analog devices said last week prashanth mahendrarajah would step down as finance chief at the end of the fiscal year the companys shares were trading down 55 at 17755 on wednesday 1  09084 euros