Monolithic Power Systems, Rambus, Lattice sink after results, chips await AMD
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A trio of semiconductor stocks - Monolithic Power Systems (NASDAQ:MPWR), Rambus (NASDAQ:RMBS) and Lattice Semiconductor (NASDAQ:LSCC) - fell in pre-market trading on Tuesday as investors digested second-quarter earnings reports and forecasts ahead of results from industry behemoth AMD (NASDAQ:AMD).
Monolithic Power (MPWR) sank more than 6% after it reported second-quarter results that topped estimates and its third-quarter outlook was largely in-line with forecasts. 
During the second-quarter, Monolithic (MPWR) earned $2.82 per share, excluding one-time items, as revenue declined 4.3% year-over-year to $441.1M. Analysts were expecting earnings of $2.81 per share and $441.1M in sales. 
Looking ahead, the company expects third-quarter revenue to be between $464M and $484M, with the mid-point just a hair above the $473.6M estimate. Monolithic (MPWR) also expects adjusted gross margins to be between 55.7% and 56.3%, with the mid-point right at the estimate of 56%.
Rambus (RMBS) shares
tumbled nearly 9% after it issued third-quarter licensing billings guidance that disappointed investors.
Looking ahead, Rambus (RMBS) expects licensing billings to be between $59M and $65M, with royalty revenue between $26M and $32M.
Product-related and contract revenue are forecast to be between $47M and $53M and $17M and $23M, respectively.
Rambus (RMBS) is one of the biggest pre-market movers on Tuesday.
Lattice Semiconductor (LSCC) fared better than the aforementioned duo, as shares slipped 1% even as it reported second-quarter results and guidance that topped estimates.
Excluding one-time items, Lattice Semiconductor (LSCC) earned 52 cents per share as revenue rose 17.8% year-over-year to $190.08M. Analysts were expecting earnings of 51 cents per share on $187.32M.
Looking ahead, Lattice (LSCC) expects third-quarter sales to be between $187M and $197M, with the mid-point just above the $191.88M estimate.
Amid the trio of quarterly results, the semiconductor industry is awaiting quarterly results from AMD (AMD), scheduled to take place after the close of trading.
A consensus of analysts estimates that the Dr. Lisa Su-led company will earn 57 cents per share on $5.32B in revenue.
Last week, competitor Intel (INTC) reported second-quarter results that topped expectations, as investors saw signs that the weakness in the PC industry may be abating.
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