Updated from 7:55 a.m. EDT
Shares in semiconductor equipment maker
Kulicke & Soffa
plunged in premarket trading Wednesday after the company slashed its revenue outlook for its fiscal fourth quarter.
Shares fell $1.47, or $22%, to $5.55, having hit 52-week lows on several occasions in early August.
The Willow Grove, Pa.-based company said it now expects revenue of $135 million to $165 million, vs. its previous forecast of $175 million to $195 million.
The consensus forecast of analysts is for revenue of $186 million.
"Discussions with customers indicate a general slowing in the rate of semiconductor growth, and as a result, wire bonder shipments for the September quarter will be lower than previously forecast," the company said.
The warning follows a cautious revenue outlook from networking giant
Kulicke & Soffa stressed it still anticipated a profitable quarter, excluding bond redemption costs, with positive operating cash flow.
Falling in sympathy with the warning were