National Semiconductor (NYSE: NSM) reported first-quarter earnings on Thursday after the bell. Net sales came in at $314 million, and net income was 13 cents per diluted share. According to our earnings preview, that 13-cent profit beat analyst expectations by a whopping six pennies. I'll tell you, I always enjoy when a company can beat by a little more than the boring penny. The top line also went beyond projections. The call was for roughly $300 million in sales.

Although these numbers represented steep drops when compared to year-ago data, it should be noted that, on a sequential basis, National Semiconductor showed significant improvement. Gross margin went up sequentially on better product mix and a benefit from a plant closing in China.

Continue reading National Semiconductor tops analyst projections in Q1

National Semiconductor tops analyst projections in Q1 originally appeared on BloggingStocks on Fri, 11 Sep 2009 09:00:00 EST. Please see our terms for use of feeds.

At roughly 7:30 AM EST, National Semiconductor (NYSE: NSM) released its third-quarter earnings report. The semiconductor company announced earnings of 9 cents per diluted share -- down from 16 cents per share in the second quarter.

In last year's third quarter, NSM reported earnings per diluted share of 29 cents per share. According to MarketWatch, the Street expected NSM to post a loss of 5 cents per share. Quarterly revenue dropped to $292 million, short of the consensus estimate of $296.8 million.

Continue reading National Semiconductor announces Q3 earnings, job cuts

National Semiconductor announces Q3 earnings, job cuts originally appeared on BloggingStocks on Wed, 11 Mar 2009 10:30:00 EST. Please see our terms for use of feeds.

The shares of chipmaker Cypress Semiconductor Corporation (NYSE: CY) are getting hammered today after the company warned that it will swing to a fourth-quarter loss. In a statement, Cypress cited "declining order patterns and turns from all sales channels, all end markets, all geographies, and all of our product lines. In addition, backlog continues to be weak, and we are seeing cancellations and requests for push-outs that are somewhat higher than normal."

The firm now expects to record a quarterly loss of 3 cents to 12 cents per share on sales of $165 million to $180 million. As recently as mid-October, Cypress expected to book a profit of 4 cents to 7 cents per share in the fourth quarter, with sales totaling $194 million to $204 million.

Cypress is hardly the first chip firm to fall on hard times in the current macro environment. The market has already been hit this week with a similar warning from Dow component Intel Corporation (NASDAQ: INTC), while National Semiconductor Corporation (NYSE: NSM) slashed its outlook and announced job cuts.

This afternoon, CY is down roughly 20%, and it's trading less than a point above its current annual low of $2.93. The chip company's warning sparked a rush in the options pits; so far, Cypress has seen more than 6 times its average daily put volume cross the tape. The bulk of these bearish bets have changed hands on the November 4 strike, which has seen volume of 2,113 contracts on open interest of 6,509.

Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the video series Schaeffer's Daily Q&A on SchaeffersResearch.com.

Put volume spikes as Cypress Semiconductor slashes fourth-quarter outlook originally appeared on BloggingStocks on Fri, 14 Nov 2008 15:33:00 EST. Please see our terms for use of feeds.

National Semiconductor (NYSE: NSM) manufactures a broad range of analog and mixed signal semiconductor devices and subsystems. Products include power management circuits, display drivers, audio and operational amplifiers, interface products and data conversion devices. These are used in communications, networking, automotive, test measurement and aerospace applications. Customers include IBM (NYSE: IBM), Motorola (NYSE: MOT) and Sony (NYSE: SNE). Texas Instruments (NYSE: TXN) is a major competitor.

The firm pleased investors last week, when it reported Q4 EPS of 34 cents and revenues of $462 million. Analysts had been looking for 26 cents and $449.5 million. The gross margin of 65.9% was up sequentially and year over year, driven by cost efficiencies and an improved product mix of higher-value analog devices. Management also guided Q1 revenues to $460-$475 million ($451.22M consensus) and FY09 EPS to about $1.45-$1.51 ($1.24 consensus).

Continue reading National Semiconductor (NSM): Share price defines bullish 'flag' formation

National Semiconductor (NSM): Share price defines bullish 'flag' formation originally appeared on BloggingStocks on Wed, 11 Jun 2008 15:21:00 EST. Please see our terms for use of feeds.

National Semiconductor (NYSE: NSM) is scheduled to release Q4 after the close of trading on June 5.

RBC Capital Markets has a price target of $18 on NSM.

NSM June option implied volatility is at 46; July is at 40 above its 26-week average of 38 according to Track Data, suggesting larger price movement.

Ciena (NASDAQ: CIEN) closed at $29.97 Monday. CIEN is scheduled to report Q2 EPS on June 5.

Bank of America has Neutral rating with a $32 price target on CIEN.

CIEN June option implied volatility of 65 and July option implied volatility of 57 is above its 26-week average of 55 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: National Semiconductor and Ciena volatility up into EPS originally appeared on BloggingStocks on Tue, 03 Jun 2008 09:45:00 EST. Please see our terms for use of feeds.

• Intel Corporation (NASDAQ: INTC) -- Q3 guidance
• National Semconductor Corporation (NYSE: NSM) -- Q1 earnings
• Western Digital Corporation (NYSE: WDC) -- Q1 guidance

• Texas Instruments Inc (NYSE: TXN) -- Q3 guidance

• Staples Inc (NASDAQ: SPLS) -- Q2 earnings, Q3 guidance
• Office Depot Inc (NYSE: ODP) -- Q2 earnings
• Harley Davidson Inc (NYSE: HOG) -- 2H2007 guidance
• Weyerhaeuser Company (NYSE: WY) -- Q3 guidance

A recap of recent earnings and guidance originally appeared on BloggingStocks on Wed, 12 Sep 2007 14:00:00 EST. Please see our terms for use of feeds.

Solid quarter for National Semiconductor (NSM), once again originally appeared on BloggingStocks on Fri, 07 Sep 2007 10:25:00 EST. Please see our terms for use of feeds.

Analog Devices (ADI) reports, but National Semi (NSM) gets an upgrade originally appeared on BloggingStocks on Wed, 22 Aug 2007 13:20:00 EST. Please see our terms for use of feeds.

One of the nation's pioneering chip makers was founded in 1959 by eight engineers who opened for business in a small house above a dentist's office in Danbury, Connecticut. They made transistors, but soon graduated to the new integrated circuits abd moved to California's Silicon Valley.

National Semiconductor (NYSE: NSM) manufactures a broad range of analog and mixed signal semiconductor devices and subsystems. Products include power management circuits, display drivers, audio and operational amplifiers, interface products and data conversion devices. These are used in communications, networking, automotive, test measurement and aerospace applications. Customers include IBM (NYSE: IBM), Motorola (NYSE: MOT), Nokia (NYSE: NOK) and Sony (NYSE: SNE). Texas Instruments (NYSE: TXN) is a major competitor.

Continue reading National Semiconductor: Integrating circuits from the beginning

National Semiconductor: Integrating circuits from the beginning originally appeared on BloggingStocks on Tue, 19 Jun 2007 15:00:00 EST. Please see our terms for use of feeds.

National Semiconductor: Holy margin expansion originally appeared on BloggingStocks on Fri, 08 Jun 2007 11:30:00 EST. Please see our terms for use of feeds.

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Analyst upgrades 6-08-07: RDS.A, BRCM and NSM originally appeared on BloggingStocks on Fri, 08 Jun 2007 10:12:00 EST. Please see our terms for use of feeds.

Activist shareholder Ralph Whitworth interviewed originally appeared on BloggingStocks on Fri, 18 May 2007 13:20:00 EST. Please see our terms for use of feeds.

Wireless chips inventory overhang is over originally appeared on BloggingStocks on Tue, 13 Mar 2007 12:15:00 EST. Please see our terms for use of feeds.

National Semiconductor (NYSE:NSM) reported some pretty bleak figures yesterday, but UBS upped its price target on the firm from $25 to $27. It still rates the company's shares "neutral." It may be an example of things being so bad in the chip industry that even mediocre results are considered OK.

For the quarter ending February 25, NSM revenue dropped 21% to $431 million. Wall Street expected $434. Net income dropped to $72 million from $130 million in the year ago period.

The company did say its expected revenue of $444 million to $457 million in the current quarter.

The stock may have gotten cheap. It traded for $30 last May, and recently was as low as $22.20. It closed yesterday below $26 but is up 4% today.

The huge oversupply of semiconductors may finally be behind the industry. Shares in Analog Devices (NYSE:ADI) and ST Microelectronics (NYSE:STM) have also started to recover.

If all of the companies show even minimal growth in the next quarter, the market may assume that their revenue could actually begin to grow again in the second half. It would be a relief for investors who have taken a beating in this sector.

Douglas A. McIntyre is a partner at 24/7 Wall St.

National Semiconductor: winning by losing originally appeared on BloggingStocks on Fri, 09 Mar 2007 10:45:00 EST. Please see our terms for use of feeds.

Surprisingly good numbers for National Semiconductor originally appeared on BloggingStocks on Fri, 09 Mar 2007 10:30:00 EST. Please see our terms for use of feeds.

Semis and electronics retailers look weak originally appeared on BloggingStocks on Wed, 20 Dec 2006 10:55:00 EST. Please see our terms for use of feeds.

National Semi weak quarter doesn't bode well for industry originally appeared on BloggingStocks on Mon, 11 Dec 2006 09:41:00 EST. Please see our terms for use of feeds.

National Semiconductors using iPods and podcasts to keep its employees up to date originally appeared on BloggingStocks on Wed, 14 Jun 2006 08:21:00 EST. Please see our terms for use of feeds.