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Technology Stocks : Lattice Semiconductor
LSCC 72.96-0.9%Oct 31 9:30 AM EST
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To: Analog Kid who wrote (288)7/14/1998 9:36:00 AM
From: Platter  Read Replies (1) of 339
 
Good analysis from Briefing.com"LATTICE SEMICONDUCTOR (LSCC) 31 5/8 -1/8. It certainly helps to get those earnings estimates down. We must have blinked because just a couple of days ago we wrote that semiconductor firm Lattice was expected to report earnings per share of $0.43. That was the indeed the First Call estimate from a few days ago, but today the consensus (average) estimate was $0.40 per share. LSCC did not publicly warn about lower earnings during the past week, but they might have gotten the word out. Good thing. After the close Monday, LSCC reported fiscal first quarter (Jun) earnings of $0.41 a share. That now will get reported as "a penny ahead" of expectations on all the press reports and the news shows, even though the number is less than what was expected just a few days ago. This is a prime example of how the game is loaded nowadays. Twice as many firm beat estimates every quarter as miss, and LSCC shows why. The stock has even managed to inch higher in the past week while the estimates came down, and very well may now bounce on the "good news" tomorrow. Any such bounce may prove temporary, however, as it is hard to ignore the fact that earnings are down 31% from the year-ago levels and revenues are off a rather startling 22%. Stocks such as 3Com (COMS) and Motorola (MOT) also got a bounce when they reported earnings above lowered expectations, but then backed off. LSCC falls into that category where there might be a knee-jerk reaction on the "penny ahead" syndrome, but the fundamentals need to improve before sustained gains are likely."
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