After the close last night, Lattice Semiconductor stepped forward to warn that it now forecasts third-quarter revenue to be flat to down 2% sequentially. The company also stated that it will record a one-time restructuring charge in the third quarter of $1.4 million to $1.7 million related to the headcount reduction it announced on September 4.
Technically speaking, the equity has bounced off its August lows at 4.40 and climbed back above support at its ascending 10-day and 20-day moving averages. This rally has carried the shares not only back above former resistance/support at the 5.60, but the equity has also moved above its 20-week trendline, which has guided the shares lower since late December. However, the stock is poised to gap lower this morning, with the security down more than 9% in electronic trading.