Lattice Semiconductor (NASDAQ:LSCC) Posts Earnings Results, Meets Estimates

Lattice Semiconductor (NASDAQ:LSCC) released 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. The company had revenue of $127.09 million during the quarter, compared to the consensus estimate of $127.05 million. Lattice Semiconductor had a net margin of 25.48% and a return on equity of 16.92%. The firm’s revenue for the quarter was down 33.9% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Lattice Semiconductor updated its Q4 guidance to $0.15 to $0.23 EPS and its Q4 2024 guidance to EPS.

Lattice Semiconductor Trading Up 5.8 %

NASDAQ LSCC traded up $2.99 on Wednesday, hitting $54.17. 4,622,867 shares of the company were exchanged, compared to its average volume of 2,147,888. The company has a market cap of $7.46 billion, a P/E ratio of 52.59 and a beta of 1.39. Lattice Semiconductor has a 1-year low of $40.65 and a 1-year high of $85.69. The firm has a 50 day moving average of $50.40 and a two-hundred day moving average of $57.15.

Wall Street Analyst Weigh In

A number of brokerages have commented on LSCC. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Lattice Semiconductor in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their target price on Lattice Semiconductor from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America cut 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 research report on Tuesday, July 30th. StockNews.com cut Lattice Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, Raymond James reduced their target price on shares of Lattice Semiconductor from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.42.

Insiders Place Their Bets

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 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Sherri R. Luther sold 20,632 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $48.89, for a total transaction of $1,008,698.48. Following the transaction, 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 SEC, which is available through this link. Also, SVP Mark Jon Nelson sold 1,232 shares of Lattice Semiconductor stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $48.98, for a total value of $60,343.36. Following the completion of the sale, the senior vice president now owns 14,919 shares of the company’s stock, valued at approximately $730,732.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.19% of the company’s stock.

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.