Investors dinged shares of Newport Beach-based Mindspeed Technologies Inc. after the chipmaker lowered its outlook for the current quarter.
The stock fell 6% at end of trading day on a recent market value of about $20 million.
For the three months ending in December, Mindspeed is expecting sales of $30.5 million to $31.5 million, down from its previous revenue forecast of $34 million to $37 million.
The company cited “weaker than expected customer ordering trends in its wide area networking business.”
It didn’t give a profit outlook.
Wall Street analysts, on average, are expecting Mindspeed to post a loss of roughly $1 million on sales of $35 million.
Mindspeed, which makes chips for voice over Internet protocol phones and wide area networks, is set to report results on Feb. 2.
