Lattice Semiconductor (NASDAQ:LSCC) Releases Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Lattice Semiconductor beat quarterly expectations: The company reported adjusted EPS of $0.72, $0.17 above consensus, while revenue reached $291.04 million versus the $255.90 million estimate.
• Shares rose 2.7% to $95.44 following the results, although the stock trades at a very high P/E ratio of 367.08 and remains below its 52-week high of $157.01.
• Analysts remain broadly bullish: The stock has a consensus “Buy” rating and an average price target of $144.77, while insiders have sold 19,661 shares worth approximately $2.59 million over the past 90 days.

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) issued its quarterly earnings data on Monday. The semiconductor company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.17, FiscalAI reports. The firm had revenue of $291.04 million during the quarter, compared to the consensus estimate of $255.90 million. Lattice Semiconductor had a return on equity of 10.92% and a net margin of 5.58%.

Lattice Semiconductor Stock Up 2.7%

Lattice Semiconductor stock traded up $2.47 during mid-day trading on Monday, reaching $95.44. 6,654,664 shares of the company's stock were exchanged, compared to its average volume of 1,982,761. The company has a market cap of $13.08 billion, a P/E ratio of 367.08, a P/E/G ratio of 1.41 and a beta of 1.90. Lattice Semiconductor has a twelve month low of $60.50 and a twelve month high of $157.01. The company has a quick ratio of 2.33, a current ratio of 3.02 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $115.31 and a 200-day moving average of $115.37.

Insiders Place Their Bets

In other news, SVP Pravin Desale sold 2,039 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $111.83, for a total value of $228,021.37. Following the sale, the senior vice president directly owned 73,456 shares in the company, valued at approximately $8,214,584.48. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Tracy Feanny sold 1,880 shares of Lattice Semiconductor stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $126.43, for a total value of $237,688.40. Following the completion of the transaction, the senior vice president owned 60,221 shares of the company's stock, valued at approximately $7,613,741.03. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,661 shares of company stock worth $2,587,259 over the last 90 days. Corporate insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LSCC shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $175.00 target price on shares of Lattice Semiconductor in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Lattice Semiconductor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 27th. KeyCorp boosted their price target on shares of Lattice Semiconductor from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Needham & Company LLC upped their price objective on shares of Lattice Semiconductor from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Lattice Semiconductor in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $144.77.

Lattice Semiconductor Company Profile

Lattice Semiconductor Corporation NASDAQ: LSCC designs and develops low-power programmable semiconductor devices and related software. Its product portfolio includes field-programmable gate arrays (FPGAs), complex programmable logic devices, programmable system control solutions, and connectivity products that enable customers to configure and update electronic systems after manufacturing.

The company's products are used in communications and networking equipment, industrial systems, automotive applications, data-center and computing hardware, consumer electronics, and aerospace and defense products.

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