Lattice Semiconductor (NASDAQ:LSCC) Announces Earnings Results, Hits Expectations

Lattice Semiconductor (NASDAQ:LSCC) posted its quarterly earnings data on Monday. The semiconductor company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24, Briefing.com reports. Lattice Semiconductor had a return on equity of 23.39% and a net margin of 30.26%. The company had revenue of $127.09 million for the quarter, compared to analyst estimates of $127.05 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was down 33.9% on a year-over-year basis. Lattice Semiconductor updated its Q4 guidance to $0.15 to $0.23 EPS and its Q4 2024 guidance to EPS.

Lattice Semiconductor Trading Down 3.3 %

Shares of NASDAQ LSCC traded down $1.70 during mid-day trading on Tuesday, reaching $50.19. 5,423,514 shares of the company’s stock were exchanged, compared to its average volume of 2,389,241. Lattice Semiconductor has a twelve month low of $40.65 and a twelve month high of $85.69. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 37.51 and a beta of 1.39. The business has a fifty day simple moving average of $50.15 and a 200 day simple moving average of $57.27.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America lowered shares of Lattice Semiconductor from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $83.00 to $47.00 in a report on Tuesday, July 30th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Lattice Semiconductor in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 price target on shares of Lattice Semiconductor in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lattice Semiconductor from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Susquehanna reduced their price objective on shares of Lattice Semiconductor from $65.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.25.

Insider Activity at Lattice Semiconductor

In other news, CFO Sherri R. Luther sold 20,632 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $48.89, for a total transaction of $1,008,698.48. Following the completion of the sale, the chief financial officer now owns 90,341 shares of the company’s stock, valued at $4,416,771.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Sherri R. Luther sold 20,632 shares of Lattice Semiconductor stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $48.89, for a total value of $1,008,698.48. Following the sale, the chief financial officer now owns 90,341 shares of the company’s stock, valued at approximately $4,416,771.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Jon Nelson sold 1,232 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $48.98, for a total value of $60,343.36. Following the transaction, the senior vice president now directly owns 14,919 shares of the company’s stock, valued at approximately $730,732.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.19% of the stock is owned by insiders.

Lattice Semiconductor Company Profile

Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the Lattice Certus and ECP, Mach, iCE, and CrossLink. It also provides video connectivity application specific standard products.