National Semiconductor Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component National Semiconductor Corp (NYSE:NSM) will unveil its latest earnings on Thursday, September 8, 2011. National Semiconductor Corporation designs and manufactures a range of semiconductor products, most of which are analog and mixed-signal integrated circuits.

National Semiconductor Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 26 cents per share, a decline of 27.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 29 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 26 cents during the last month. For the year, analysts are projecting profit of $1.15 per share, a decline of 7.3% from last year.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the fourth quarter of the last fiscal year, it reported net income of 30 cents per share versus a mean estimate of 27 cents. Two quarters ago, it reported profit of 24 cents per share.

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

Wall St. Revenue Expectations: On average, analysts predict $373.3 million in revenue this quarter, a decline of 9.4% from the year ago quarter. Analysts are forecasting total revenue of $1.54 billion for the year, a rise of 1.3% from last year’s revenue of $1.52 billion.

Analyst Ratings: Analysts seem relatively indifferent about National Semiconductor with 11 of 15 analysts surveyed maintaining a hold rating.

Key Stats:

The decrease in profit in the fourth quarter of the last fiscal year breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 15.3% in the fourth quarter of the last fiscal year from the year earlier, while the figure rose 11.7% in the third quarter of the last fiscal year, 77.7% in the second quarter of the last fiscal year and more than twofold in the first quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In fourth quarter of the last fiscal year, revenue declined 6.1% to $374.1 million from the year earlier quarter. In the third quarter of the last fiscal year, the figure fell 5%.

Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), Analog Devices, Inc. (NYSE:ADI), Intersil Corporation (NASDAQ:ISIL), Linear Technology Corp. (NASDAQ:LLTC), ON Semiconductor Corp. (NASDAQ:ONNN), Maxim Integrated Products Inc. (NASDAQ:MXIM), STMicroelectronics N.V. (NYSE:STM), Fairchild Semicond. Intl. (NYSE:FCS), Micrel, Incorporated (NASDAQ:MCRL), Intel (NASDAQ:INTC) and Semtech Corporation (NASDAQ:SMTC).

Stock Price Performance: During August 5, 2011 to September 2, 2011, the stock price had risen 34 cents (1.4%) from $24.55 to $24.89. It saw one of its worst periods between March 3, 2011 and March 10, 2011 when shares fell for six-straight days, falling 8.9% (-$1.38) over that span. The stock price saw one of its best stretches over the last year between April 19, 2011 and April 27, 2011 when shares rose for six-straight days, rising 0.8% (+19 cents) over that span. Shares are up $11.23 (+82.2%) year to date.

(Source: Xignite Financials)

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

More from The Cheat Sheet