But the company's results beat Wall Street expectations, sending shares up 4.49% to close at $123.89. Fiscal first quarter adjusted earnings per share were $1.03, versus expectations of $1, according to IBES data from Refinitiv.
The fast-spreading virus, which has killed over 2,000 in China, has roiled businesses globally and disrupted supply chains, prompting companies including Apple Inc to warn of potential damage.
"Excluding (coronavirus impact), revenue guide would have been actually better than consensus and more importantly much better than buyside expectations," Evercore analyst C.J. Muse said.
The Norwood, Massachusetts-based supplier of certain iPhone components estimated revenue of $1.35 billion for the current quarter, plus or minus $50 million, below analysts' estimates of $1.38 billion, according to IBES data from Refinitiv.
The bulk of Analog Devices' revenue comes from industrial, communications and automotive customers with less exposure to supply chain disruptions in China than its product consumers, who accounted for about 13% of revenue in the fiscal first quarter ended Feb. 1.
"I think if I were a consumer company, I would be far more concerned about the centricity of China in my supply chain," Chief Executive Vincent Roche said in an interview.
Chief Financial Officer Prashanth Mahendra-Rajah said the revenue outlook also assumes an impact on its communications unit due to potential delays in the rollout of 5G networks.
Roche said the delays have been uneven. While China has taken a "pause" in building out 5G networks, he said other parts of Asia such as Southeast Asia and Japan were on track, with the United States poised to build up late in 2020 and India presenting a longer-term opportunity.
"I think we're in the first innings," he said.
Asked about potential new restrictions on selling to Huawei Technologies Co Ltd recently discussed by U.S. trade officials, Roche said Analog Devices does not discuss specific customers but that new rules were unlikely to affect the company's long-term growth in 5G networks.
Five major companies - two European, one Korean and two Chinese - are now supplying 5G gear, expanding Analog Devices' customer base, Roche said.
""We believe with the strength of product portfolio we have, the customer relationships we have with the big five players globally, including China, that irrespective of what the administration in the U.S. might throw at us from an embargo standpoint, we will still grow that business over the next year to three years," he said.
By Munsif Vengattil and Stephen Nellis