Shares of programmable chip vendor Lattice Semiconductor (LSCC) are down 23 cents, or 5.4%, at $4 after the company this afternoon said it cut its revenue outlook for this quarter to a decline of 6% to 8% from prior expectations for revenue to rise or fall by 2% from the prior quarter, citing weakness in communications equipment.
The company reiterated a view for gross margin of 53% in the quarter, plus or minus 2%.
The reduced estimates “reflect weakness in the communications market combined with continued weakness in the worldwide distribution channel,” Lattice said.
Shares of Lattice competitor Altera (ALTR) are unchanged in late trading at $33.04, and shares of Xilinx (XLNX) are also unchanged at $35.69.
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