Nordic Semiconductor soars following 'brighter' Q2 guidance
24/04/2024 08:37
** Norwegian fabless chip maker Nordic Semiconductor's
NOD.OL stock rises 30% after it published its Q2 guidance,
above expectations
** The firm sees its Q2 revenue within a range of $115-135
million with a gross margin of about 50%, which Jefferies
estimates the former beat consensus by around 30%
** Management cited signs of demand improvements, inventory
adjustments being largely over, and seasonality for the upbeat
Q2 outlook
** "The outlook is decidedly brighter," it writes, adding
that "given the QoQ sales growth outlook of +68%, Nordic appears
to have reached the trough in this downcycle and looks to be on
the path to recovery"
(Reporting by Tristan Veyet)
((Tristan.chabba@thomsonreuters.com))