Earnings Preview: Altera, Cypress, Flextronics, Maxim, Rambus, Lattice Report Results Thursday

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 |  Includes: ALTR, CY, FLEX, LSCC, MXIM, RMBS
by: Robert Weinstein

Altera Corporation (NASDAQ:ALTR) is scheduled to release last fiscal quarter's results after the closing bell on October 20, 2011.

Overview

ALTR trades an average of 5.7 million shares per day. The company was founded in 1983 and is headquartered in San Jose, California.

52-Week High: $49.59
52-Week Low: $28.50
Book Value: $8.82
Float Short: 4.07%

On average, 23 analysts are expecting a drop of $-0.06 in earnings per share compared to last quarter's results of $0.65. The reporting quarter's estimated mean earnings are $0.59 per share. Analyst estimates range between $0.58 and $0.64 per share.

Looking at the price movement over the last month, the stock has fallen in price -6.04%, with a change from a year ago of 21.76%. The stock is performing well when compared to the general stock market up to this point. When reviewed with the S&P 500, the year-to-date positive change is 3.71%.

Revenue year-over-year has increased to $1.95 billion for 2010 vs. $1.20 billion for 2009. The bottom line has rising earnings year-over-year of $782.88 million for 2010 vs. $251.06 million for 2009. The company's earnings before income and taxes are rising, with an EBIT year-over-year of $861.50 million for 2010 vs. $292.77 million for 2009.

paid2trade.com revenue gross bar chart for ALTR Click to enlarge

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 548.77 M $ 548.38 M $ -0.39 M -0.07%
Mar-11 $ 536.48 M $ 535.81 M $ -0.67 M -0.12%
Dec-10 $ 547.63 M $ 555.38 M $ 7.75 M 1.42%
Sep-10 $ 525.98 M $ 527.45 M $ 1.47 M 0.28%
Jun-10 $ 446.61 M $ 469.30 M $ 22.69 M 5.08%
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M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Click to enlarge

Reported earnings per share compared to the mean estimate. Differences are rounded.

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Flextronics International Ltd. (NASDAQ:FLEX) is scheduled to release last fiscal quarter's results after the closing bell on October 20, 2011.

Overview

FLEX trades an average of 4.3 million shares per day.

Flextronics International Ltd. provides design and electronics manufacturing services to original equipment manufacturers. The company was founded in 1990 and is headquartered in Singapore.

52-Week High: $8.50
52-Week Low: $5.05
Book Value: $3.06
Float Short: 2.24%

On average, analysts are expecting a drop of $-0.01 in earnings per share compared to last quarter's results of $0.21. The number to beat is $0.20 per share, based on the estimated mean earnings. Analyst estimates range between $0.19 and $0.22 per share.

The current trailing twelve months (ttm) P/E ratio is 8.3 The forward P/E ratio is 7.4. From a month ago, the stock has increased in price 9.46%, and changing from last year at this time 5.71%. When comparing to the S&P 500, the year-to-date difference is -15.22%.

For the same fiscal period year-over-year, revenue has improved to $28.68 billion for 2011 vs. $24.11 billion for 2010. The bottom line has rising earnings year-over-year of $596.22 million for 2011 vs. $18.59 million for 2010. The company's earnings before income and taxes are rising, with an EBIT year-over-year of $697.66 million for 2011 vs. $345.72 million for 2010.

paid2trade.com revenue gross bar chart for FLEX Click to enlarge

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 7.34 B $ 7.55 B $ 206.23 M 2.81%
Mar-11 $ 7.28 B $ 6.86 B $ -422.20 M -5.8%
Dec-10 $ 7.61 B $ 7.83 B $ 219.79 M 2.89%
Sep-10 $ 7.01 B $ 7.42 B $ 407.75 M 5.81%
Jun-10 $ 6.38 B $ 6.57 B $ 187.04 M 2.93%
Click to enlarge
M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Click to enlarge

Reported earnings per share compared to the mean estimate. Differences are rounded.

Click to enlarge

Click to enlarge

Maxim Integrated Products Inc. (NASDAQ:MXIM) is anticipated to report earnings after the closing bell on October 20, 2011.

Overview

MXIM trades an average of 4 million shares per day.

Maxim Integrated Products, Inc. engages in designing, developing, manufacturing, and marketing various linear and mixed-signal integrated circuits worldwide. The company was founded in 1983 and is headquartered in Sunnyvale, California.

52-Week High: $28.44
52-Week Low: $18.83
Book Value: $8.49
Float Short: 3.07%

On average, 18 analysts are expecting a drop of $-0.03 in earnings per share compared to last quarter's results of $0.45. A beat of $0.42 per share will top the estimated mean earnings. Analyst estimates range between $0.38 and $0.48 per share.

The current trailing twelve months (ttm) P/E ratio is 15.9 The forward P/E ratio is 15.7. From a month ago, the stock has increased in price 1.38%, and changing from last year at this time 39.51%.

With a double-digit gain compared to stocks in general, the stock shares did very well as compared to the overall stock market. When comparing to the S&P 500, the year-to-date change is 11.62%.

For the same fiscal period year-over-year, revenue has improved to $2.47 billion for 2011 vs. $2.00 billion for 2010. The bottom line has rising earnings year-over-year of $489.01 million for 2011 vs. $125.14 million for 2010. The company's earnings before income and taxes are rising, with an EBIT year-over-year of $673.04 million for 2011 vs. $292.05 million for 2010.

paid2trade.com revenue gross bar chart for MXIM Click to enlarge

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 625.46 M $ 626.49 M $ 1.03 M 0.16%
Mar-11 $ 605.51 M $ 606.78 M $ 1.27 M 0.21%
Dec-10 $ 606.90 M $ 612.94 M $ 6.04 M 1%
Sep-10 $ 614.02 M $ 626.14 M $ 12.12 M 1.97%
Jun-10 $ 561.25 M $ 565.96 M $ 4.71 M 0.84%
Click to enlarge
M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Click to enlarge

Reported earnings per share compared to the mean estimate. Differences are rounded.

Click to enlarge

Click to enlarge

Cypress Semiconductor Corporatio (NASDAQ:CY) is expected to report earnings for last fiscal quarter before the opening bell on October 20, 2011.

Overview

CY trades an average of 4 million shares per day.

Cypress Semiconductor Corporation designs, develops, manufactures, and markets mixed-signal programmable solutions worldwide. The company was founded in 1982 and is headquartered in San Jose, California.

52-Week High: $23.95
52-Week Low: $11.62
Book Value: $3.87
Float Short: 6.34%

On average, analysts are expecting a drop of $-0.12 in earnings per share compared to last quarter's results of $0.32. A beat of $0.20 per share will top the estimated per share earnings. Analyst estimates range between $0.18 and $0.22 per share.

Looking at the price movement over the last month, the stock has fallen in price -2.54%, and changing from last year at this time 28.87%. When compared to the S&P 500, the year-to-date difference is -5.62%.

Revenue year-over-year has increased to $877.53 million for 2010 vs. $667.79 million for 2009. The bottom line has rising earnings year-over-year of $75.74 million for 2010 vs. $-150.42 million for 2009. The company's earnings before income and taxes are rising, with an EBIT year-over-year of $87.86 million for 2010 vs. $-149.26 million for 2009.

paid2trade.com revenue gross bar chart for CY Click to enlarge

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 251.64 M $ 254.98 M $ 3.34 M 1.33%
Mar-11 $ 228.86 M $ 233.11 M $ 4.25 M 1.86%
Dec-10 $ 225.56 M $ 226.56 M $ 1.00 M 0.44%
Sep-10 $ 237.59 M $ 231.92 M $ -5.67 M -2.39%
Jun-10 $ 218.58 M $ 223.02 M $ 4.44 M 2.03%
Click to enlarge
M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Click to enlarge

Reported earnings per share compared to the mean estimate. Differences are rounded.

Click to enlarge

Click to enlarge

Rambus Inc. (NASDAQ:RMBS) is anticipated to report earnings after the closing bell on October 20, 2011.

Overview

RMBS trades an average of 2.4 million shares per day.

Rambus Inc. engages in the creation, design, development, and licensing of patented innovations, technologies, and architectures to digital electronics products and systems. The company was founded in 1990 and is headquartered in Sunnyvale, California.

52-Week High: $22.80
52-Week Low: $9.78
Book Value: $4.72
Float Short: 9.02%

Looking at the price movement over the last month, the stock has moved higher in price 25.12%, and moving in price -16.11% from one year ago. When comparing to the S&P 500, the year-to-date difference is -16.71%.

For the same fiscal period year-over-year, revenue has improved to $323.39 million for 2010 vs. $113.01 million for 2009. The bottom line has rising earnings year-over-year of $150.92 million for 2010 vs. $-92.19 million for 2009. The company's earnings before income and taxes are rising, with an EBIT year-over-year of $226.88 million for 2010 vs. $-75.86 million for 2009.

paid2trade.com revenue gross bar chart for RMBS Click to enlarge

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 64.20 M $ 66.21 M $ 2.01 M 3.13%
Mar-11 $ 59.90 M $ 62.53 M $ 2.63 M 4.39%
Dec-10 $ 89.30 M $ 90.92 M $ 1.62 M 1.81%
Sep-10 $ 34.07 M $ 31.74 M $ -2.33 M -6.84%
Jun-10 $ 39.10 M $ 38.86 M $ -0.24 M -0.61%
Click to enlarge
M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Click to enlarge

Reported earnings per share compared to the mean estimate. Differences are rounded.

Click to enlarge

Click to enlarge

Lattice Semiconductor (NASDAQ:LSCC) is scheduled to release last fiscal quarter's results after the closing bell on October 20, 2011.

Overview

LSCC trades an average of 1.5 million shares per day.

Lattice Semiconductor Corporation designs, develops, manufactures, and markets programmable logic products and related software. The company was founded in 1983 and is headquartered in Hillsboro, Oregon.

52-Week High: $7.38
52-Week Low: $4.24
Book Value: $2.89
Float Short: 5.79%

On average, analysts are expecting a drop of $-0.01 in earnings per share compared to last quarter's results of $0.11. A beat of $0.10 per share will top the estimated mean earnings.

Looking at the price movement over the last month, the stock has moved higher in price 6.71%, with a one-year change of 28.51%. The stock is performing a little better than the overall market, with a slight relative gain. When comparing to the S&P 500, the year-to-date difference is 2.36%.

For the same fiscal period year-over-year, revenue has improved to $297.77 million for 2010 vs. $194.42 million for 2009. The bottom line has rising earnings year-over-year of $57.07 million for 2010 vs. $-6.96 million for 2009. The company's earnings before income and taxes are rising, with an EBIT year-over-year of $55.13 million for 2010 vs. $-8.25 million for 2009.

paid2trade.com revenue gross bar chart for LSCC Click to enlarge

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 84.70 M $ 83.86 M $ -0.84 M -0.99%
Mar-11 $ 76.46 M $ 82.61 M $ 6.15 M 8.04%
Dec-10 $ 73.59 M $ 73.08 M $ -0.51 M -0.69%
Sep-10 $ 79.50 M $ 77.14 M $ -2.36 M -2.97%
Jun-10 $ 76.14 M $ 77.12 M $ 0.98 M 1.29%
Click to enlarge
M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Click to enlarge

Reported earnings per share compared to the mean estimate. Differences are rounded.

Click to enlarge

Click to enlarge

I use a proprietary blend of technical analysis, financial crowd behavior, and fundamentals in my short-term trades, and while not totally the same in longer swing trades to investments, the concepts used are similar. You may want to use this article as a starting point of your own research with your financial planner. I use Seeking Alpha, Edgar Online, and Yahoo Finance for most of my data. I use the confirmed symbols from earnings.com that I believe to be of the most interest.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.