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Lattice Semiconductor joins warning parade

Add Lattice Semiconductor to the list of chip and PC companies warnings of lower-than-expected sales this quarter.

Lattice (Nasdaq: LSCC) announced after the bell Thursday that it expects fourth-quarter sales to be flat compared to the $151 million it recorded in the third quarter.

Lattice shares closed off $1.06 to $16.56 ahead of the warning.

According to a company statement, bookings for November were lower than expected. The fourth-quarter book-to-bill ratio will be under 1.0.

On Wednesday, the logic device maker said its board of directors approved a plan to repurchase up to 5 millions shares of its common stock.

The warning comes just a few hours after Intel (Nasdaq: INTC) made a similar confession, warning that its fourth-quarter sales will be flat compared to the third quarter.

Last quarter, Lattice posted a profit of $22.7 million, or 21 cents a share, on sales of $151 million.

First Call Corp. consensus expects it to earn 36 cents a share in the fourth quarter.

Company officials did not comment on earnings estimates for the quarter.

The stock moved as high as $41.69 in January before falling to a 52-week low of $15 in November.

Eleven of the 16 analysts following the stock rate it either a "strong buy" or a "buy."