Lattice Semiconductor Down Over 13% After Lowering Q2 Guidance
Lattice Semiconductor (NASDAQ: LSCC) is trading lower on the session after it cut its Q2 guidance earlier today. The company is now expeting revenue to be 0 to -3% on a sequatial basis vs +4% prior guidance. Lattice Semiconductor also announced it sees gross margins to be approximately 51% vs approximately 55% estimates.
Lattice Semiconductor Corporation designs, develops and markets programmable logic products and related software. Its shares are down 35% year-to-date.
Lattice Semiconductor is currently trading at $3.88, a loss of $0.61 or 13.59% intraday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.