Microchip maker National Semiconductor Corporation (
) late Thursday posted better-than-expected fiscal second quarter
profits, but its tepid sales forecast sent its shares lower in
The Santa Clara-based company reported fiscal second quarter net
income of $83.5 million, or 34 cents per share, compared with $47
million, or 20 cents per share, in the year-ago period.
Revenue rose 13% from last year to $390 million.
On average, Wall Street analysts expected a smaller profit of 32
cents per share, albeit on higher revenue of $399 million.
Looking ahead, the company predicted an 8% to 12% decline in
third quarter sales compared with the second quarter, while
analysts were looking for a much smaller 4% decline.
National Semiconductor shares fell 85 cents, or -5.7%, in
premarket trading Friday.
The Bottom Line
Shares of National Semiconductor (
) have a 2.67% dividend yield, based on last night's closing stock
price of $14.97. The stock has technical support in the $12-$13
price area. If the shares can firm up, we see overhead resistance
around the $16-$18 price levels.
National Semiconductor Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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