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

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) released its earnings results on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24, Briefing.com reports. Lattice Semiconductor had a net margin of 30.26% and a return on equity of 23.39%. The company had revenue of $127.09 million during the quarter, compared to the consensus estimate of $127.05 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company's revenue was down 33.9% compared to the same quarter last year. Lattice Semiconductor updated its Q4 guidance to $0.15 to $0.23 EPS and its Q4 2024 guidance to EPS.

Lattice Semiconductor Trading Down 1.4 %

NASDAQ:LSCC traded down $0.73 during trading hours on Tuesday, hitting $51.16. 9,624,546 shares of the company traded hands, compared to its average volume of 2,409,688. Lattice Semiconductor has a twelve month low of $40.65 and a twelve month high of $85.69. The firm has a 50-day moving average of $50.15 and a 200 day moving average of $57.27. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 37.68 and a beta of 1.39.

Insider Transactions at Lattice Semiconductor

In other Lattice Semiconductor news, 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 completion of the transaction, the senior vice president now owns 14,919 shares of the company's stock, valued at $730,732.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Mark Jon Nelson sold 1,232 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $48.98, for a total value of $60,343.36. Following the completion of the transaction, the senior vice president now owns 14,919 shares in the company, valued at approximately $730,732.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sherri R. Luther sold 20,632 shares of Lattice Semiconductor stock in a transaction dated 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 approximately $4,416,771.49. This trade represents 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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus upgraded Lattice Semiconductor from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Tuesday, September 17th. Bank of America downgraded shares of Lattice Semiconductor from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $83.00 to $47.00 in a research report on Tuesday, July 30th. TD Cowen cut their price target on shares of Lattice Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price objective on shares of Lattice Semiconductor in a report on Monday. Finally, KeyCorp cut their target price on Lattice Semiconductor from $60.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Lattice Semiconductor has a consensus rating of "Moderate Buy" and a consensus target price of $58.42.

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.