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Earnings Roundup: Broadcom, Teradyne among chip-sector stars

Broadcom topped analysts' estimates in its first quarter Tuesday, earning $41.8 million, or 18 cents a share, on sales of $191.3 million.

First Call consensus expected the maker of chips used for Internet access via cable-TV lines to earn 16 cents a share in the quarter.

Ahead of the earnings report, Broadcom (Nasdaq: BRCM) shares moved up 8 7/16 to 157.

The $191.3 million in sales marks a 91 percent improvement from the year-ago quarter when it made $15.7 million, or 7 cents a share, on sales of $100 million.

Last quarter, Broadcom raked in $36.9 million, or 31 cents a share, on sales of $160.8 million.

Its shares moved as high as 253 in March after falling to a low of 29 last April.

Twenty-three of the 24 analysts following the stock maintain either a "buy" or "strong buy" recommendation.

Among other chip companies reporting earnings Tuesday:

  • Elantec Semiconductor Corp. (Nasdaq: ELNT) plowed past Street estimates in its second quarter Tuesday, earning $3.4 million, or 29 cents a share, on sales of $20 million.

    First Call consensus expected it to earn 26 cents a share this quarter.

    Its shares closed up 4 3/4 to 62 1/2 ahead of the earnings report.

    The $20 million in sales marks a 57 percent improvement from the year-ago quarter when it earned $900,000, or 10 cents a share, on sales of $12.7 million.

    Its shares hit a 52-week high of 97 in March.

  • Cadence Design Systems Inc. (Nasdaq: CDN) managed to sneak past analysts' estimates in its first quarter Tuesday, but it still had a miserable quarter compared to the same period last year.

    Cadence earned $2.6 million, or 1 cent a share, on sales of $257 million.

    First Call consensus expected it to break even in the quarter.

    Its shares closed up 1 to 15 3/4 ahead of the earnings report.

    However, the $257 million in sales was down 23 percent from the year-ago quarter when it pocketed $74.6 million, or 29 cents a share, on sales of $335 million.

    Its shares hit a 52-week high of 24 5/8 in December after falling to a low of 9 3/16 in May.

  • RF Micro Devices Inc. (Nasdaq: RFMD) also topped Street estimates in its fourth quarter, earning $14.6 million, or 17 cents a share, on sales of $84.8 million.

    Analysts were expecting a profit of 16 cents a share.

    RF Micro Devices closed up 3 3/16 to 97 5/16 Tuesday.

    In the year-ago quarter, it earned $9.9 million, or 12 cents a share, on sales of $56.5 million.

  • Teradyne Inc. (NYSE: TER) scampered past Street estimates in its first quarter, posting a profit of $109.1 million, or 60 cents a share, on sales of $648.1 million.

    First Call consensus expected the chip-equipment maker to earn 52 cents a share in the quarter.

    Its shares closed up 4 175/256 to 91 239/256 ahead of the earnings report.

    The $648.1 million in sales marks a stunning 88 percent jump from the year-ago quarter when it made $18 million, or 10 cents a share, on sales of $344.5 million.

    Teradyne shares peaked at 99 9/16 last week after falling to a low of 21 13/16 in May.