Lattice Semiconductor (NASDAQ:LSCC) Issues Earnings Results

Lattice Semiconductor (NASDAQ:LSCC) issued its earnings results on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24, Briefing.com reports. Lattice Semiconductor had a net margin of 30.26% and a return on equity of 23.39%. The business had revenue of $127.09 million during the quarter, compared to analysts’ expectations of $127.05 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue for the quarter 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 Trading Down 2.7 %

Shares of LSCC traded down $1.40 during mid-day trading on Tuesday, hitting $50.49. The company’s stock had a trading volume of 4,343,054 shares, compared to its average volume of 2,385,008. The firm has a 50-day simple moving average of $50.15 and a 200 day simple moving average of $57.27. Lattice Semiconductor has a 1-year low of $40.65 and a 1-year high of $85.69. The firm has a market capitalization of $6.96 billion, a P/E ratio of 37.51 and a beta of 1.39.

Insiders Place Their Bets

In other Lattice Semiconductor news, SVP Mark Jon Nelson sold 1,232 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $48.98, for a total transaction of $60,343.36. Following the sale, the senior vice president now directly owns 14,919 shares in the company, valued at approximately $730,732.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Mark Jon Nelson sold 1,232 shares of the business’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 sale, the senior vice president now owns 14,919 shares of the company’s stock, valued at $730,732.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief financial officer now directly owns 90,341 shares of the company’s stock, valued at $4,416,771.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LSCC has been the subject of several research reports. Bank of America downgraded Lattice Semiconductor from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $83.00 to $47.00 in a report on Tuesday, July 30th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Lattice Semiconductor in a report on Monday. TD Cowen cut 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. Benchmark reissued a “buy” rating and set a $60.00 price objective on shares of Lattice Semiconductor in a research report on Monday, September 16th. Finally, Stifel Nicolaus raised shares of Lattice Semiconductor from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

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.