Top Tech Stocks
Technology stocks were moderately lower, with shares of
technology companies in the S&P 500 slipping about 0.3%.
In company news, Lattice Semiconductor (
) fell sharply Friday after the chip-maker forecast a big decline
in revenue for the current quarter compared with Q2 levels, also
trailing analyst projections for the period.
The company last night said it is expecting revenue during the
quarter ending in September to fall between 8% to 12% from the
prior quarter, translating into a range of $87.38 million to $91.36
million. Analysts, on average, are expecting LSCC to produce around
$98.50 million in Q3 revenue.
The downbeat outlook upstaged better-than-expected financial
results for the three months ended June 30. It said net income for
the quarter improved from year-ago levels to $11.8 million, or
$0.10 per share, up from a $5.0 million profit during the same
quarter last year and beating the Capital IQ consensus by $0.01 per
Revenue increased 17.2% year over year to $99.3 million, beating
analyst projections by around $740,000.
LSCC shares were down around 5% at $7.02 apiece, earlier falling
to a session low of $6.03 a share, down 18.4%.
In other sector news,
(+) DTLK, (+18.8%) Q2 adjusted net income of $0.22 per share
beats by $0.09. Revenue climbs 7.8% over same quarter last year to
$159.4 mln, topping consensus by $9.78 mln.
(-) MXIM, (-12.2%) Fiscal Q4 EPS of $0.43 lags Street view by
$0.05 per share. Revenue rises 6.0% year over year to $642 mln,
trailing consensus by $8.45 mln. Projected Q1 EPS misses by at
least $0.11; revenue outlook comes up at least $56.06 mln
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.