Lattice Trims Rev View, Shares Dip

RELATED QUOTES

SymbolPriceChange
ALTR53.960.00
XLNX52.58-0.54
LSCC6.53+0.08

Recently, Lattice Semiconductor Corporation (LSCC) reduced its revenue expectations for the fourth quarter of 2012. Following the news, the company’s shares fell 1.86% to $4.23 after the markets closed on Wednesday.

The chipmaker now expects sales to be down 6%–8% sequentially versus its previous guidance of plus or minus 2% sequentially.

Management expects revenue to decline on account of weakness in the communications market combined with continued softness in the worldwide distribution channel. The communications market represented approximately 47% of the company’s third quarter revenue and decreased 7.8% sequentially.

However, the company maintained its gross margin guidance of 53% (+/-2%) and total operating expenses guidance of approximately $43 million, which includes approximately $5.5 million of restructuring charges.

Recently, the company has taken steps to restructure its sales and marketing functions, which will reduce operational spending by approximately $12 million annually. The company expects to incur total restructuring charges of approximately 6 million, of which $5.5 million will be recognized in the fourth quarter.

It is imperative that Lattice continues to undertake various initiatives and develop new products, keeping in mind the interest of the organization in both the long and short run. We believe the restructuring action and new products in both consumer and non-consumer segments will bring in stability and steady earnings growth in the near future.

Lattice Semiconductor designs, develops and markets high performance programmable logic devices and related development system software. The company’s third quarter revenue was down 13.2% from the year-ago period to $70.9 million due to lower programmable logic devices (PLD) revenue. However, revenue for field programmable gate arrays (:FPGA) surged 24.8% year over year to $26.1 million.

The company is likely to report its third-quarter results on January 24.

Currently, Lattice Instruments has a Zacks #3 Rank (Hold). We note that its rival, Xilinx Inc. (XLNX) also carries a Zacks #3 Rank (Hold) while Altera Corp. (ALTR) carries a Zacks #4 Rank (Sell).

Read the Full Research Report on ALTR

Read the Full Research Report on XLNX

Read the Full Research Report on LSCC

Zacks Investment Research



More From Zacks.com

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Markit reports 3Q loss Associated Press - 6 minutes ago

    On a per-share basis, the London-based company said it had a loss of 9 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share. The results surpassed Wall Street expectations. ... … More »

  • Saudis, Iran dash hopes for OPEC oil deal in Algeria
    Saudis, Iran dash hopes for OPEC oil deal in Algeria Reuters - 10 minutes ago

    Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources within the exporter group said the differences between the kingdom and Tehran remained too wide. "This is a … More »

  • Deutsche Bahn manager to become CEO of Vossloh - industry sources Reuters - 12 minutes ago

    Andreas Busemann, a senior manager with German rail operator Deutsche Bahn AG [DBN.UL] is expected to become chief executive of rail technology group Vossloh AG (VOSG.DE), industry sources said on Tuesday. The management change is on the agenda at … More »

  • Britain says economy needs an infrastructure upgrade after political drama Reuters - 27 minutes ago

    LONDON (Reuters) - Britain's economy needs an infrastructure and vocational education upgrade to deliver stability to businesses after months of political drama including the vote to leave the European ... … More »

  • SE Asia Stocks-Indonesia hits over 4-wk high on rupiah surge Reuters - 28 minutes ago

    By Anusha Ravindranath Sept 27 (Reuters) - Indonesian stocks recouped early losses to hit their highest in more than four weeks on Tuesday after the rupiah surged to a 17-month peak on likely inflows from ... … More »

  • Chinese hunger for Australia food leaves A$1 billion tax hole Reuters - 39 minutes ago

    Australia might be missing out on up to A$1 billion (588 million pounds) in uncollected taxes annually from Chinese agents who ship food back home to meet insatiable demand from a booming middle class. There are 40,000 so-called Chinese 'daigou' in … More »

  • France unlikely to achieve 2017 deficit target - fiscal watchdog Reuters - 46 minutes ago

    France is unlikely to meet its 2017 budget deficit target, the country's independent fiscal watchdog said on Tuesday, casting doubt on the government's plan to cut the shortfall to less than 3 percent of output. The government's deficit reduction … More »

  • Credit Suisse's Thiam guides for third quarter outflows in Swiss business Reuters - 47 minutes ago

    Credit Suisse Chief Executive Tidjane Thiam on Tuesday guided investors for some outflows in its domestic business in the third quarter as it looks to cut down on risk exposure. "We are going through our relationships with external asset managers … More »

  • Close Brothers shrugs off Brexit worries as FY profit rises Reuters - 54 minutes ago

    The Brexit vote had little direct impact on demand at the company's retail, commercial, and property lending operations, Chief Executive Preben Prebensen told Reuters. Unlike companies such as IG Group and CMC Markets, Close Brothers said its … More »

  • AccorHotels joins buoyant youth hostels market
    AccorHotels joins buoyant youth hostels market Reuters - 55 minutes ago

    AccorHotels is launching a youth hostel brand called Joe&Joe to tap the spending power of young adults, part of its response to the challenges posed by Airbnb and an entry into a high-growth sector. Europe's largest hotel group said on Tuesday it … More »

  • Oil prices slip as hopes for a deal in Algiers fade
    Oil prices slip as hopes for a deal in Algiers fade Reuters - 1 hour 3 minutes ago

    Saudi Arabia on Tuesday dashed hopes that OPEC oil producers could clinch a deal in Algeria this week as sources within the exporter group said the differences between the kingdom and rival Iran remained too wide. U.S. West Texas Intermediate (WTI) … More »

  • Global stocks, Mexico peso bounce as markets score one for Clinton
    Global stocks, Mexico peso bounce as markets score one for Clinton Reuters - 1 hour 4 minutes ago

    World shares swung higher and the Mexican peso surged more than two percent on Tuesday, as investors awarded the first U.S. presidential debate to Democrat Hillary Clinton over Republican Donald Trump. Markets have tended to see Clinton as the … More »

  • World stocks, Mexico peso bounce as markets score one for Clinton
    World stocks, Mexico peso bounce as markets score one for Clinton Reuters - 1 hour 4 minutes ago

    World shares swung higher and the Mexican peso surged more than two percent on Tuesday, as investors awarded the first U.S. presidential debate to Democrat Hillary Clinton over Republican Donald Trump. Markets have tended to see Clinton as the … More »

  • WTO cuts 2016 world trade growth forecast to 1.7 percent
    WTO cuts 2016 world trade growth forecast to 1.7 percent Reuters - 1 hour 15 minutes ago

    The World trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the United States. The new figure of 1.7 percent, down from the WTO's … More »

  • China industrial profits rise most in 3 years as economy shows signs of stabilising
    China industrial profits rise most in 3 years as economy shows signs of stabilising Reuters - 1 hour 20 minutes ago

    Profits in China's industrial sector rose at the fastest pace in three years as the world's second-biggest economy showed more signs of stabilising, though some private forecasters say the improvement may be more fleeting than real. Profits of … More »

  • Air France 'shirt-ripping' trial opens AFP - 1 hour 23 minutes ago

    Fifteen people went on trial Tuesday over rowdy scenes a year ago in which an Air France executive had his shirt ripped as he fled a mob of workers angry over planned job cuts. Images of the incident near ... … More »

  • Asian Stocks Rise for First Time in Three Days After U.S. Debate Bloomberg - 1 hour 35 minutes ago

    The MSCI Asia Pacific Index rose 0.7 percent to 141.85 as of 4:30 p.m. in Hong Kong after sliding as much as 0.9 percent earlier, as S&P 500 Index futures climbed 0.4 percent. In a little more than 90 minute face-off, Trump and Clinton sparred on … More »

  • FTSE hovers near one-week lows as Wolseley slides Reuters - 1 hour 37 minutes ago

    Britain's top shares index hovered near one-week lows on Tuesday, weighed down by a drop in construction stocks such as Wolseley and weaker energy company stock prices. The blue-chip FTSE 100 index was flat at 6,819.59 points, near its lowest level … More »

  • Markets cheer Clinton in US presidential debate
    Markets cheer Clinton in US presidential debate AFP News - 1 hour 39 minutes ago

    Financial markets Tuesday cheered Hillary Clinton's performance in the first US presidential debate, with stocks and high-risk currencies staging a "relief rally" as investors saw her as victor over Republican rival Donald Trump. Key Asian bourses … More »

  • London still top finance centre, but Brexit may change that - survey
    London still top finance centre, but Brexit may change that - survey Reuters - 1 hour 41 minutes ago

    London's role as the world's top financial centre could be under threat as the implications of Britain leaving the European Union start to sink in, a survey showed on Monday. The Z/Yen 20th global financial centres index (GFCI), which looks at 87 … More »

  • WHY IT MATTERS: Social Security
    WHY IT MATTERS: Social Security Associated Press - 1 hour 44 minutes ago

    THE ISSUE: More than 60 million retirees, disabled workers, spouses and children rely on monthly Social Security benefits. That's nearly one in five Americans. The trustees who oversee Social Security ... … More »

  • China’s Shibor Climbs to Seven-Week High as PBOC Withdraws Funds Bloomberg - 1 hour 50 minutes ago

    (Bloomberg) -- Yuan borrowing costs in Shanghai rose to a seven-week high as China’s central bank pulled funds from the financial system for the second day in a row. … More »

  • Asian Hunger for Yield Tested by Junk-Rated Casino Bond Plan (2) Bloomberg - 1 hour 55 minutes ago

    Imperial Pacific International Holdings Ltd. plans to sell dollar bonds for the first time to fund its casino resort in Saipan Island, a U.S. territory in the Pacific Ocean, according to a bond document. The bond is rated B1, four steps below … More »

  • Euro zone lending stable in August, M3 beats expectations Reuters - 2 hours 13 minutes ago

    Lending growth to euro zone companies and households held steady last month while a broader measure of money circulating, often an indicator of future activity, rose past expectations, data from the European Central Bank showed on Tuesday. The … More »

  • Global money laundering group urges Singapore to step up its efforts Reuters - 2 hours 14 minutes ago

    An international group that monitors money laundering said on Tuesday that Singapore should pursue more offenders involved in international cases and take more action to confiscate suspicious funds moving through the city-state. "Singapore … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.141+0.003+2.17%
    N21.SI
    3.99+0.03+0.76%
    Z74.SI
    0.155+0.003+1.97%
    AFC.SI
    0.740.000.00%
    BS6.SI
    0.275+0.010+3.77%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.133+0.020+17.70%
    5PF.SI
    0.19+0.03+15.85%
    AWI.SI
    1.48+0.16+12.12%
    S91.SI
    0.198+0.020+11.24%
    M14.SI
    0.60+0.05+9.09%
    AZA.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.255-0.110-30.14%
    AZT.SI
    0.56-0.18-24.32%
    5VJ.SI
    0.395-0.070-15.05%
    K1Q.SI
    0.162-0.028-14.74%
    BGO.SI
    0.122-0.020-14.08%
    569.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3591-0.0011-0.08%
    USDSGD=X
    1.5281-0.0022-0.14%
    EURSGD=X
    1.7599-0.0029-0.16%
    GBPSGD=X
    73.8710+0.147+0.20%
    SGDJPY=X
    5.7041+0.0048+0.08%
    SGDHKD=X
    3.0338-0.0004-0.01%
    SGDMYR=X
    9,530.4688-48.3535-0.50%
    SGDIDR=X
    4.9053+0.0035+0.07%
    SGDCNY=X
    1.0415+0.0029+0.28%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,340.90-3.20-0.24%
    GCZ16.CMX
    19.51-0.08-0.41%
    SIZ16.CMX
    94.45-1.31-1.37%
    ^XAU
    2.18-0.02-0.71%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.13-0.03
    ^FVX
    1.59-0.03
    ^TNX
    2.33-0.01
    ^TYX