Sterne Agee analyst Vijay Rakesh noted NetLogic’s per-share earnings beat consensus, while inventories were down 9% quarter over quarter to the lowest level in a year. The analyst said revenue fell from the fourth quarter on continued inventory rebalancing at key customer Cisco (NasdaqGS: CSCO).
NetLogic is a component in SPDR S&P Semiconductor (NYSEArca: XSD) and iShares PHLX SOX Semiconductor Sector Index Fund (NasdaqGM: SOXX).
SPDR S&P Semiconductor
