Lattice Semiconductor (NASDAQ:LSCC) Announces Earnings Results

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

Lattice Semiconductor Stock Up 6.5 %

LSCC stock traded up $3.23 during midday trading on Wednesday, reaching $53.00. The company’s stock had a trading volume of 5,827,025 shares, compared to its average volume of 2,246,751. The stock has a market cap of $7.29 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 11.96 and a beta of 1.39. The business’s 50-day simple moving average is $61.94 and its 200-day simple moving average is $68.76. Lattice Semiconductor has a 52 week low of $47.58 and a 52 week high of $98.30.

Insider Activity

In related news, SVP Mark Jon Nelson sold 1,210 shares of Lattice Semiconductor stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $72.97, for a total transaction of $88,293.70. Following the completion of the transaction, the senior vice president now owns 14,554 shares in the company, valued at $1,062,005.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Mark Jon Nelson sold 1,210 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $72.97, for a total transaction of $88,293.70. Following the completion of the sale, the senior vice president now owns 14,554 shares in the company, valued at approximately $1,062,005.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth M. Schwarting sold 650 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $69.20, for a total transaction of $44,980.00. Following the completion of the transaction, the director now owns 1,920 shares in the company, valued at approximately $132,864. The disclosure for this sale can be found here. Insiders have sold 49,566 shares of company stock worth $3,664,529 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LSCC shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lattice Semiconductor from $82.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday. Susquehanna lowered their price target on shares of Lattice Semiconductor from $85.00 to $65.00 and set a “positive” rating on the stock in a report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $88.00 price target (up previously from $84.00) on shares of Lattice Semiconductor in a research note on Monday, May 13th. Needham & Company LLC cut their target price on shares of Lattice Semiconductor from $80.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Lattice Semiconductor in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Lattice Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $66.55.

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.