NEW YORK (
) -- Chipmaker
was the worst-performing stock in the
The S&P 500 was rising 10 points, or 0.76%, to 1,325 in trading Tuesday morning.
Shares of LSI fell 5.32% to $6.94. Morgan Stanley analysts noted on Monday that hard-disk-drive inventory increased 36% from last week while prices fell 70 basis points.
LSI trades at an estimated price-to-earnings ratio for next year of 8.24 times; the average for semiconductor companies is 12.63. For comparison,
has a higher forward P/E of 10.47.
Twelve of the 17 analysts who cover LSI rated it buy. Four analysts gave the stock a hold rating and one rated it sell.
The stock has risen 16.64% year to date.
-- Written by Alexandra Zendrian
>To contact the writer of this article, click here:
>To submit a news tip, send an email to:
>To follow the writer on Twitter, go to