Palm Beach, FL 6/14/12 (StreetBeat) – Chipmaker Lattice Semiconductor Corp (Nasdaq: LSCC) cut its second-quarter revenue and margin outlook, prompted mainly by a shaky semiconductor market in Europe.The company, which competes with Altera Corp and Xilinx Inc, now expects revenue to be flat to down 4 percent sequentially, implying sales of $71.7 million to $69.5 million.
The maker of programmable chips had earlier seen second-quarter revenue flat to up 4 percent sequentially.
Analysts were expecting second-quarter revenue of $73.5 million, according to Thomson Reuters I/B/E/S.
Last week, rival Altera affirmed its second-quarter forecast for a sequential revenue growth of 14 percent to 18 percent.
Lattice also lowered its gross margin to roughly 51 percent from its earlier view of about 55 percent.
Shares of the Hillsboro, Oregon-based company, which have lost a quarter of their value in the past three months, closed at $4.49 on Wednesday on the Nasdaq.
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