Magma Design Automation slips, misses on Q4 revenues and guides Q1 below the Street
Shares of Magma Design Automation Inc. (Nasdaq:LAVA) are treading lower pre-bell after the provider of chip design software reported fourth-quarter revenues that fell short of the consensus view on Wall Street. Adding insult to injury, the San Jose, Calif.-based firm issued first-quarter guidance below analysts’ estimates.
Shares flopped 14%, or $1.38, to $8.19 in pre-market trading. For detailed price information and recent news stories about Magma Design Automation, click LAVA.
