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EZchip Semiconductor Ltd. (EZCH) Plunged To A New Low For The Year

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2/14/2013 8:03 AM ET

EZchip Semiconductor Ltd. (EZCH: Quote) reported adjusted EPS of $0.26 Wednesday morning, compared to $0.22 in the prior year. The consensus estimate was for EPS of $0.21.

The Company said that Huawei, one of its five major NP-4 network processor customers, has not yet placed any production orders and may "offer a lower-end in-house solution in parallel to the high-end NP-4 solution."

EZchip sharply declined for the majority of the morning Wednesday and finished with a loss of 6.68 at $25.56 on the highest volume of the year. The stock sank to a new low for the year.

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by RTT Staff Writer

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