LSI Tumbled the Most in the SP500, Posting a 52-Week Low

Published on Thursday, 29 July 2010 17:38 Written by Danny Miller

New York, July 29^th (Tradershuddle.com) – Shares of LSI Corp. (NYSE:LSI) tumbled the most in the S&P 500 after its shares plunged 13.92% to $4.08.

LSI (NYSE:LSI), the maker of integrated circuits and storage systems, after it reported in-line earnings per share, with revenues shy of estimates. The company also issued revenue guidance for current quarter that fell short of analysts' expectations.

The company swung to a profit of $7.4 million, or 1 cent a share, in its fiscal second quarter ended July 4, from a net loss of $61.5 million, or 9 cents a share, in the year-ago period. The forecast on Wednesday overshadowed LSI's second-quarter earnings.

The drop came with strong volume; sellers pushed the stock lower, with 39.6 million shares traded, 4.10 times LSI’s average 90day volume of 9.7 million shares.

The stock's 52-week low is $4.06, posted today, and its 52-week high is $6.73.