Lattice Semiconductor (NASDAQ:LSCC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Lattice Semiconductor (NASDAQ:LSCC) posted its quarterly earnings data on Monday. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01), Briefing.com reports. The company had revenue of $124.08 million during the quarter, compared to the consensus estimate of $130.17 million. Lattice Semiconductor had a net margin of 30.26% and a return on equity of 23.39%. The company’s revenue was down 34.7% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Lattice Semiconductor updated its Q3 2024 guidance to EPS.

Lattice Semiconductor Stock Performance

NASDAQ:LSCC traded down $4.67 during trading hours on Thursday, hitting $48.33. The stock had a trading volume of 1,496,623 shares, compared to its average volume of 2,241,651. Lattice Semiconductor has a one year low of $47.58 and a one year high of $98.30. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 10.83 and a beta of 1.39. The business’s 50 day moving average is $61.47 and its 200-day moving average is $68.65.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Susquehanna decreased their price objective on shares of Lattice Semiconductor from $85.00 to $65.00 and set a “positive” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lattice Semiconductor from $82.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday. KeyCorp decreased their target price on shares of Lattice Semiconductor from $85.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America lowered shares of Lattice Semiconductor from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $83.00 to $47.00 in a research note on Tuesday. Finally, Needham & Company LLC cut their target price on shares of Lattice Semiconductor from $80.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.55.

Insider Buying and Selling at Lattice Semiconductor

In other news, Director Elizabeth M. Schwarting sold 650 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $69.20, for a total transaction of $44,980.00. Following the completion of the sale, the director now owns 1,920 shares of the company’s stock, valued at $132,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Elizabeth M. Schwarting sold 650 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $69.20, for a total transaction of $44,980.00. Following the completion of the sale, the director now owns 1,920 shares of the company’s stock, valued at $132,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sherri R. Luther sold 16,465 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $71.98, for a total transaction of $1,185,150.70. Following the sale, the chief financial officer now directly owns 109,116 shares of the company’s stock, valued at approximately $7,854,169.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,566 shares of company stock valued at $3,664,529. Corporate insiders own 1.80% 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.