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NASDAQ Morning Movers; (SYNA), (EFII), (QLGC), (LSCC), (NFLX)
Visit: Netflix, Inc.
New York, New York - January 25, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainers on the NASDAQ for January 25th, 2013.
Synaptics Inc., (NASDAQ:SYNA) trading at $38.43 rose by $5.88 or 18.06% on a volume of 2,518,146 shares, making it today's top "morning mover".
Shares of the touch-pad maker Synaptics began trading much higher this morning after the company posted late yesterday results for its fiscal second quarter, ended December 31, which outmatched expectations.
For the period, the company reported revenue of $143 million, down from $145.5 million a year ago, but ahead of the Street consensus at $137.6 million. Non-GAAP profits were 53 cents a share, similarly ahead of expectations at 45 cents.
In a post-report conference call with the Street, Synaptics said it expects FY Q3 revenue of $140 million to $148 million, and non-GAAP profits of 50-58 cents a share, ahead of the Street at $133.5 million and 40 cents.
This strong report has triggered upgrades this morning from Cowen analyst Robert Stone, who went to Outperform from Neutral on the stock, and from Feltl & Co. analyst Jeffrey Schreiner, who upped his rating to Hold from Sell.
Electronics For Imaging Inc., (NASDAQ:EFII) trading at $22.92 gained $3 or 15.06% on a volume of 887,475 shares.
Electronics for Imaging also reported better-than-expected earnings on Jan. 24 which has lead to a rise in stock as well as analyst upgrades.
For the quarter ended Dec. 31, Electronics for Imaging beat expectations on revenues as well as expectations on earnings per share. Electronics for Imaging booked revenue of $174.1 million compared the expected results the three analysts polled by S&P Capital IQ predicted, being a revenue of $168.0 million. GAAP reported sales were 6.8% higher than the prior-year quarter's $163.1 million.
QLogic Corp., (NASDAQ:QLGC) trading at $12.41 moved up $1.59 or 14.70% on a volume of 3,430,947 shares.
QLogic was another company which reported higher that expected earnings on Jan. 24, beating expectations on revenues and expectations on earnings per share.
QLogic reported revenue of $119.4 million which surpassed the expected revenue of 116.0 million given by 13 analysts polled by S&P Capital IQ. GAAP reported sales were 22% lower than the prior-year quarter's $152.7 million.
Lattice Semiconductor Corporation (NASDAQ:LSCC) trading at $4.45 rose by $0.55 or 14.10% on a volume of 2,758,728 shares.
Netflix Inc., (NASDAQ:NFLX) trading at $166.70 gained $19.84 or 13.51% on a volume of 14,524,215 shares.
Netflix stocks continue to rise since yesterday which is consistent with the stocks trading history. The stock was at $32 in the beginning of 2009 then moved to almost $300 in July 2011. After it went to about $60 in mid-November 2011, then up above $125, and below $54 at the end of July 2012. Now, six months after that date, the stock is above $140 after a quarterly report in which Netflix announced that it had made a profit for the quarter despite analysts predicting the company to report losses. In addition, Netflix added over 2 million U.S. video streaming subscribers, strengthening its recurring revenue model.
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