LSCC - Monolithic Power Systems Rambus Lattice sink after results chips await AMD

2023-08-01 07:52:48 ET

A trio of semiconductor stocks - Monolithic Power Systems ( NASDAQ: MPWR ), Rambus ( NASDAQ: RMBS ) and Lattice Semiconductor ( NASDAQ: LSCC ) - fell in pre-market trading on Tuesday as investors digested second-quarter earnings reports and forecasts ahead of results from industry behemoth AMD ( NASDAQ: AMD ).

Monolithic Power ( MPWR ) sank more than 6% after it reported second-quarter results that topped estimates and its third-quarter outlook was largely in-line with forecasts.

During the second-quarter, Monolithic ( MPWR ) earned $2.82 per share, excluding one-time items, as revenue declined 4.3% year-over-year to $441.1M. Analysts were expecting earnings of $2.81 per share and $441.1M in sales.

Looking ahead, the company expects third-quarter revenue to be between $464M and $484M, with the mid-point just a hair above the $473.6M estimate. Monolithic ( MPWR ) also expects adjusted gross margins to be between 55.7% and 56.3%, with the mid-point right at the estimate of 56%.

Rambus ( RMBS ) shares tumbled nearly 9% after it issued third-quarter licensing billings guidance that disappointed investors.

Looking ahead, Rambus ( RMBS ) expects licensing billings to be between $59M and $65M, with royalty revenue between $26M and $32M.

Product-related and contract revenue are forecast to be between $47M and $53M and $17M and $23M, respectively.

Rambus ( RMBS ) is one of the biggest pre-market movers on Tuesday.

Lattice Semiconductor ( LSCC ) fared better than the aforementioned duo, as shares slipped 1% even as it reported second-quarter results and guidance that topped estimates.

Excluding one-time items, Lattice Semiconductor ( LSCC ) earned 52 cents per share as revenue rose 17.8% year-over-year to $190.08M. Analysts were expecting earnings of 51 cents per share on $187.32M.

Looking ahead, Lattice ( LSCC ) expects third-quarter sales to be between $187M and $197M, with the mid-point just above the $191.88M estimate.

Amid the trio of quarterly results, the semiconductor industry is awaiting quarterly results from AMD ( AMD ), scheduled to take place after the close of trading.

A consensus of analysts estimate that the Dr. Lisa Su-led company will earn 57 cents per share on $5.32B in revenue.

Last week, competitor Intel ( INTC ) reported second-quarter results that topped expectations, as investors saw signs that the weakness in the PC industry may be abating.

More on semiconductors

• AMD Earnings Preview: Looking for more cues for PC market recovery
• KeyBanc's Asia findings suggest weak China demand; AI opportunity
• Monolithic Power declares $1.00 dividend

For further details see: