Lattice Semiconductor (NASDAQ:LSCC) Announces Earnings Results

Lattice Semiconductor (NASDAQ:LSCC) issued its earnings results on Monday. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01), Briefing.com reports. Lattice Semiconductor had a return on equity of 23.67% and a net margin of 30.26%. The firm had revenue of $124.08 million during the quarter, compared to analyst estimates of $130.17 million. During the same period in the previous year, the company earned $0.40 EPS. Lattice Semiconductor’s revenue for the quarter was down 34.7% on a year-over-year basis. Lattice Semiconductor updated its Q3 2024 guidance to EPS.

Lattice Semiconductor Price Performance

Shares of Lattice Semiconductor stock opened at $49.77 on Wednesday. Lattice Semiconductor has a one year low of $47.58 and a one year high of $98.30. The stock’s 50-day moving average is $61.94 and its 200 day moving average is $68.76. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 11.96 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LSCC. Stifel Nicolaus reduced their price target on Lattice Semiconductor from $67.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday. StockNews.com upgraded Lattice Semiconductor from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. TD Cowen reduced their price target on Lattice Semiconductor from $80.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reduced their price target on Lattice Semiconductor from $80.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target on shares of Lattice Semiconductor in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.55.

Insider Buying and Selling

In related news, SVP Glenn O’rourke sold 1,241 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $74.54, for a total transaction of $92,504.14. Following the transaction, the senior vice president now directly owns 12,084 shares of the company’s stock, valued at approximately $900,741.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Glenn O’rourke sold 1,241 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $74.54, for a total transaction of $92,504.14. Following the completion of the sale, the senior vice president now directly owns 12,084 shares of the company’s stock, valued at $900,741.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Jon Nelson sold 1,210 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $72.97, for a total value of $88,293.70. Following the sale, the senior vice president now directly owns 14,554 shares of the company’s stock, valued at $1,062,005.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,566 shares of company stock valued at $3,664,529. 1.80% of the stock is owned by company insiders.

About Lattice Semiconductor

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.