Tech Stocks in Motion

Leadis tanks on earnings.
Author:
Publish date:

Shares of

Leadis Technology

(LDIS)

were among technology's losers Friday, falling 15% after the semiconductor company posted second-quarter results that fell well below Wall Street forecasts.

The company reported a loss of $2.6 million, or 9 cents a share, on sales of $13.5 million. On a pro forma basis, the company reported a loss of $2.1 million, or 7 cents a share. Analysts polled by Thomson First Call were expecting a loss of 6 cents a share on sales of $14 million. A year ago the company posted pro forma earnings of $7.4 million, or 29 cents a share, on sales of $41.3 million. Looking ahead, Leadis Technology forecast an adjusted third-quarter loss of 5 cents to 7 cents a share on sales of $17 million to $20 million. Analysts had been expecting a loss of 1 cent a share on sales of $19 million.

Finally, the company announced that it has begun a search for a new chief executive. Steve Ahn, the company current CEO, will assume the post of chairman after the company finds a new CEO. Shares were trading down $1.29 to $6.86.

PMC-Sierra

(PMCS)

fell 6% after the chip maker posted second-quarter earnings that matched expectations on sales that fell just slightly below expectations. Excluding items, the company posted earnings of $7.2 million, or 4 cents a share, on sales of $71.5 million. Analysts were expecting earnings of 4 cents a share on sales of $71.6 million. A year ago the company posted adjusted earnings of $14.9 million, or 8 cents a share, on sales of $85.7 million. Shares were trading down 59 cents to $9.85.

Shares of

Packeteer

(PKTR)

fell 14% after the company posted mixed second-quarter results. The company reported pro forma earnings of $4.7 million, or 14 cents a share, on sales of $28.2 million. Analysts were expecting earnings of 13 cents a share on sales of $29.4 million. A year ago the company posted pro forma earnings of $2.1 million, or 6 cents a share, on sales of $21.6 million. Shares were trading down $1.97 to $12.57.

Silicon Labs

(SLAB) - Get Report

fell modestly after the chip maker posted second-quarter results that topped forecasts but warned that third-quarter sales would fall well below expectations. The company earned $15.6 million, or 28 cents a share, on sales of $107.2 million. Silicon Labs posted adjusted operating income of $20.4 million. Analysts were expecting earnings of 27 cents a share on sales of $106.6 million. A year ago the company earned $22.8 million, or 41 cents a share, on sales of $126.1 million. A year ago the company reported adjusted operating income of $34.1 million. Looking ahead, Silicon Labs forecast third-quarter sales of $100 million to $103 million. Analysts had been expecting sales of $109.9 million. Shares were trading down 7 cents to $26.83.

Shares of

TriQuint Semiconductor

(TQNT)

rose 4% after the company reported a second-quarter loss that was narrower than expected. The company reported earnings of $6.2 million, or 4 cents a share, on sales of $67.9 million. Excluding discontinued operations, the company would have reported a loss of $1.5 million, or 1 cent a share. Analysts were expecting a loss of 5 cents a share on sales of $67.8 million. A year ago the company earned $287,000, or breakeven, on sales of $84.6 million. Looking ahead, TriQuint forecast a third-quarter loss of 1 cent a share to a profit of a penny a share on sequential sales growth of 8% to 13%, which implies sales of $75.2 million to $76.7 million. Analysts had been expecting a loss of 2 cents a share on sales of $76.6 million. Shares were trading up 14 cents to $3.86.

Other technology movers included

Microsoft

(MSFT) - Get Report

, up 9 cents to $26.28;

Intel

(INTC) - Get Report

, 36 cents to $27.08;

Broadcom

(BRCM)

, up $4.04 to $42.65;

Lucent Technologies

(LU)

, down 3 cents to $2.87;

Cisco Systems

(CSCO) - Get Report

, down 20 cents to $19.36;

eBay

(EBAY) - Get Report

, down 99 cents to $41.11;

SanDisk

(SNDK)

, up $3.45 to $31.67;

Yahoo!

(YHOO)

, up 50 cents to $33.44;

Oracle

(ORCL) - Get Report

, up 5 cents to $13.77;

Google

(GOOG) - Get Report

, down $14.78 to $299.16;

Sun Microsystems

(SUNW) - Get Report

, up 2 cents to $3.87;

Sirius Satellite Radio

(SIRI) - Get Report

, up 6 cents to $6.89; and

Qualcomm

(QCOM) - Get Report

, up 4 cents to $39.05.