In the earnings conference, chief financial officer Rafael Lizardi said typical cyclical downturns have about four to five quarters of decline, and this was the second shrinking quarter.
The weaker market was also reflected by the Q1 results at Rambus. Its revenue was in line with expectations at $48.4m, up from $46.4m in Q1 2018 but down significantly from $68.5m in the previous quarter.
“We have refocused and augmented our product portfolio around our core strengths in semiconductor, to enable new design wins and increased market share,” said Luc Seraphin, chief executive officer of Rambus.
He points to the the high-speed IP Cores business that is seeing 50% compounded annual growth rate with several new SoC design wins for data centre, networking and artificial intelligence, including multiple new ASIC designs at a Tier 1 SoC customer, as well as the tape out of the industry’s first commercial GDDR6 memory PHY on TSMC 7nm.