LSI Shares Jump 19% After Hours On Stellar Q1
LSI (LSI) shares are soaring in after hours trading after the company reported first quarter results which were well ahead of expectations.
The company reported Q1 revenue of $661 million and non-GAAP profits of 10 cents a share; the Street has been looking for $636.1 million and 7 cents. LSI said the strong results reflected strength in the storage semiconductor segment, which had “better than expected seasonal performance.”
For Q2, LSI sees revenue of $650 million to $680 million, with non-GAAP profits of 8-12 cents a share; the Street had expected $634.6 million and 7 cents.
In late trading, LSI shares are up 96 cents, or 19.4%, to $5.92.
I am still holding this stock from when it was about $90.00.Do you think it’ll be up there again?Shall I hold my breath?
Holding your breath twice will not help. You need to be buying while it is down and try to get your money back.
Don’t hold your breath. Instead, buy LSI shares at these levels.
I agree. Buy more for downward averaging. It will shoot up in the next couple of years, I hope.
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
