LSI Corp. (LSI) Releases Quarterly Earnings Results
LSI Corp. (NYSE:LSI) released its earnings data on Wednesday. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.01, AR Network reports. The company had revenue of $607.00 million for the quarter, compared to the consensus estimate of $611.30 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. LSI Corp. updated its Q4 guidance to $0.13-0.19 EPS.
A number of research firms have recently commented on LSI. Analysts at Zacks upgraded shares of LSI Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, August 14th. They now have a $9.25 price target on the stock. On a related note, analysts at Topeka Capital Markets raised their price target on shares of LSI Corp. from $8.00 to $9.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Finally, analysts at Maxim Group raised their price target on shares of LSI Corp. from $8.50 to $9.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $8.33.
Shares of LSI Corp. (NYSE:LSI) traded down 2.78% on Wednesday, hitting $7.705. The stock had a trading volume of 7,477,172 shares. LSI Corp. has a 52-week low of $5.99 and a 52-week high of $8.08. The stock has a 50-day moving average of $7.66 and a 200-day moving average of $7.13. The company has a market cap of $4.215 billion and a price-to-earnings ratio of 41.93.
LSI Corporation (NYSE:LSI) designs, develops and markets high-performance storage and networking semiconductors.
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