Integrated Silicon Solutions raises 1Q sales target

Here's a new one: A chipmaker is actually raising its revenue estimates for the current quarter.

Integrated Silicon Solutions (Nasdaq: ISSI), which makes memory chips, said after the bell Tuesday that it expects to post sales of between $63 million to $65 million in its first quarter, slightly better than the $60 million to $62 million it previously expected.

Its shares closed up $1.25 to $9.31 ahead of the news.

"December will establish a new revenue record for ISSI," said CEO Jimmy Lee said in a prepared release. "Sequential quarterly revenue growth is now expected to be in the 26 percent to 30 percent range."

Last quarter, the Santa Clara, Calif. company posted a profit of $11.7 million, or 41 cents a share, on sales of $50.1 million.

Its shares peaked at $41.81 in June before falling to a low of $7.19 last month.

Three of the four analysts following the stock rate it either a "buy" or "strong buy."

Analysts are predicting a profit of $1.90 a share in the fiscal year.