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Tuesday, September 16, 2014

Entropic to explore strategic options amid order delays, (NASDAQ: ENTR)

Chipmaker Entropic Communications Inc said it was exploring strategic options amid order delays that it warned would continue through the year, hurting the company's efforts to turn a profit.Entropic, which did not say what those options were, also lowered its revenue forecast for the current quarter blaming slower spending by telecom and cable customers in light of several big mergers.The company's shares rose as much as 11 percent but lost some of those gains to trade 3.2 percent higher at $2.84 by midday."We expect continued softness in the fourth quarter as we are again seeing new product deployment delays," Chief Financial Officer David Lyle said in a statement on Tuesday.

Entropic Communications, Inc. provides semiconductor solutions for the connected home. Shares of ENTR traded higher by 5.11% or $0.14/share to $2.88. In the past year, the shares have traded as low as $2.44 and as high as $5.12. On average, 694995 shares of ENTR exchange hands on a given day and today's volume is recorded at 1689946.