Agere in violation of NYSE listing requirements

Lucent Technologies spinoff Agere Systems has been notified that it is in violation of the New York Stock Exchange’s minimum listing requirements. The company, which manufactures integrated circuits for broadband equipment, has seen its average closing stock price over 30 consecutive trading days fall below $1.

A company spokeswoman said Agere is considering its options to avoid delisting, including a reverse stock split. Another option for Agere, she said, is to simply leave the situation alone on the belief that over the next six months its closing stock will rise above $1 for 30 straight trading days, which would put the company in compliance with NYSE rules.

The latter seems to be likely given Agere’s current stock price. Both of its securities, AGR.A and AGR.B, have closed the last two trading days above $1 and are currently selling in the $1.20 range.

--Toby Weber, Staff Writer