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LSI Logic Stock Tumbles by 13%

June 11, 1997|From Reuters

PALO ALTO — LSI Logic Corp. shares plunged 13% Tuesday amid concerns that the computer chip maker's revenue growth could be less than expected in the September quarter.

Stock in LSI, based in Milpitas, Calif., fell $5.125 to $34 on New York Stock Exchange trading of 8.72 million shares, making it the second-most active issue on the Big Board.

The company, which makes custom chips and electronic components for other computer makers, is "being cautious regarding prospects" for the third quarter, Clark Westmont, an analyst at Montgomery Securities in San Francisco, wrote in a research report.

"We still expect LSI to deliver growth in the third quarter."

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