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Why Micrel Shares Jumped Temporarily

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Micrel (NASDAQ: MCRL  ) jumped temporarily this morning, up by as much as 10% before giving back nearly all of those gains, following first-quarter earnings.

So what: Revenue in the quarter was $59.7 million, with non-GAAP net income per share of $0.11. The results were mixed relative to expectations, since the Street was modeling for $61.2 million in sales and $0.07 per share in adjusted profit. Investors may have initially rallied at the earnings beat, but cautious comments put a damper on the optimism.

Now what: CEO Ray Zinn acknowledged that the company continues to face macroeconomic challenges, with weakness in the computing and communications end markets. Growth in the consumer end market only partially offset the headwinds. Micrel expects second-quarter sales to increase 2% to 6% sequentially, with gross margin expected in the range of 51% to 52%. Earnings per share should be $0.07 to $0.09, meaning the company will have to hit the high end to match the consensus estimate.

Interested in more info on Micrel? Add it to your watchlist by clicking here.

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Evan Niu
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Evan is a Senior Technology Specialist at The Motley Fool. He was previously a Senior Trading Specialist at a major discount broker. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.

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Related Tickers

12/31/1969 7:00 PM
MCRL $0.00 Down +0.00 +0.00%
Micrel, Inc. CAPS Rating: ***

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