Earnings Preview: National Semiconductor (NSM)

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National Semiconductor (NYSE:NSM) reports earnings after the close today.  Analysts are looking for $0.25 EPS on revenues of $467.4 million, according to First Call.  As far as what to expect next quarter, estimates are $0.31 EPS and just under $496 million.  The company has handily beat estimates in each of the last two quarters.

Analysts have an average target of roughly $30.50, and a fresh recent analyst call from RBC Capital Markets was merely given a "Sector Perform" rating.  Its stock chart is also non-directional.  Options were a bit off in using as a bogey, but it appears that traders are expecting less than a 2% move based on a static snapshot from this morning.

As a reminder, National Semiconductor is one that Wall Street often tries to use as a bogey for tech and chip stocks.  But the tie is not truly an accurate one with only a $7 Billion market cap and not even quite $2 Billion expected in Fiscal May-2008 expected revenues.

Jon C. Ogg
September 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.