Lattice Semiconductor (NASDAQ:LSCC) Releases Quarterly Earnings Results

Lattice Semiconductor (NASDAQ:LSCC) posted its quarterly earnings results on Monday. The semiconductor company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24, Briefing.com reports. The company had revenue of $127.09 million during the quarter, compared to analysts’ expectations 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 was down 33.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $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 Stock Up 1.4 %

NASDAQ LSCC traded up $0.77 during midday trading on Thursday, hitting $54.94. The company had a trading volume of 634,172 shares, compared to its average volume of 2,414,871. The firm has a fifty day simple moving average of $50.40 and a two-hundred day simple moving average of $57.15. Lattice Semiconductor has a fifty-two week low of $40.65 and a fifty-two week high of $85.69. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 52.59 and a beta of 1.39.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Lattice Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Bank of America downgraded shares of Lattice Semiconductor from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $83.00 to $47.00 in a research note on Tuesday, July 30th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Lattice Semiconductor in a research report on Monday. TD Cowen decreased their target price on Lattice Semiconductor from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $61.00 target price on shares of Lattice Semiconductor in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.42.

Insider Buying and Selling

In other news, CFO Sherri R. Luther sold 20,632 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $48.89, for a total transaction of $1,008,698.48. Following the sale, the chief financial officer now directly owns 90,341 shares in the company, valued at approximately $4,416,771.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Mark Jon Nelson sold 1,232 shares of Lattice Semiconductor stock in a transaction 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 directly owns 14,919 shares of the company’s stock, valued at $730,732.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sherri R. Luther sold 20,632 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $48.89, for a total value 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. 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 owned by company insiders.

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.