PLX Technology Beats Up on Analysts Yet Again

PLX Technology (Nasdaq: PLXT  ) reported earnings on April 22. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), PLX Technology met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased. GAAP earnings per share increased.

Margins increased across the board.

Revenue details
PLX Technology booked revenue of $26.2 million. The two analysts polled by S&P Capital IQ predicted sales of $26.0 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.09. The two earnings estimates compiled by S&P Capital IQ forecast $0.06 per share. Non-GAAP EPS were $0.09 for Q1 compared to -$0.12 per share for the prior-year quarter. GAAP EPS were $0.06 for Q1 versus -$0.17 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 59.2%, 410 basis points better than the prior-year quarter. Operating margin was 12.0%, much better than the prior-year quarter. Net margin was 10.1%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $26.6 million. On the bottom line, the average EPS estimate is $0.06.

Next year's average estimate for revenue is $109.6 million. The average EPS estimate is $0.28.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 41 members out of 54 rating the stock outperform, and 13 members rating it underperform. Among 12 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), seven give PLX Technology a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PLX Technology is buy, with an average price target of $6.67.

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