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

Lattice Semiconductor (NASDAQ:LSCC) posted its quarterly earnings results 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 net margin of 25.48% and a return on equity of 16.92%. The company had revenue of $127.09 million for the quarter, compared to analysts’ expectations of $127.05 million. During the same quarter in the previous year, the firm posted $0.41 EPS. Lattice Semiconductor’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 Stock Performance

Shares of NASDAQ:LSCC traded up $0.87 during trading on Thursday, reaching $55.04. 526,913 shares of the stock traded hands, compared to its average volume of 2,414,333. The stock has a 50-day moving average of $50.40 and a two-hundred day moving average of $57.15. Lattice Semiconductor has a 52-week low of $40.65 and a 52-week high of $85.69. The stock has a market cap of $7.58 billion, a P/E ratio of 52.59 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LSCC. Susquehanna lowered their target price on shares of Lattice Semiconductor from $65.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Lattice Semiconductor in a report on Monday, September 16th. Bank of America cut shares of Lattice Semiconductor from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $83.00 to $47.00 in a report on Tuesday, July 30th. KeyCorp lowered their target price on shares of Lattice Semiconductor from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, TD Cowen lowered their target price on shares of Lattice Semiconductor from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lattice Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $58.42.

Insider Activity

In other news, CFO Sherri R. Luther sold 20,632 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 90,341 shares in the company, valued at $4,416,771.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Sherri R. Luther sold 20,632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 in the company, valued at approximately $4,416,771.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mark Jon Nelson sold 1,232 shares of the firm’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 transaction of $60,343.36. Following the completion of the sale, the senior vice president now owns 14,919 shares in the company, valued at $730,732.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.

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.