SAN FRANCISCO (MarketWatch) -- National Semiconductor Corp. (NSM : National Semiconductor Corporation News , chart, profile, more Last: 23.95+0.04+0.17% 4:24pm 11/07/2006 NSM23.95, +0.04, +0.2%) lowered its financial targets target late Tuesday due to sluggish shipments of chips to cell phone makers. National Semi said its fiscal second-quarter sales will decline 7% to 8% from the three month period ended Aug. 27, worse than the 2% to 5% decline it had previously forecast. Based on that estimate, National Semi's revenue for the quarter ending Nov. 26 will be in the range of $498 million to $503.5 million. Wall Street's consensus estimate is $523.9 million, according to analysts polled by Thomson First Call. National Semi said its gross profit margin would be in the range of 59% to 60% of sales. It had previously forecast a gross margin above 60%. Santa Clara, Calif.-based National Semi makes chips and other components used in mobile phones, computers, flat-panel display screens and high-definition televisions.
Last night ALTR lowered guidance from 344 million down to a range of 324-334 million, stock finished up .88 today.