Lattice Semiconductor (NASDAQ:LSCC) announced its quarterly earnings on December 18, 2023, reporting earnings per share (EPS) of $0.09. This figure fell short of the consensus estimate of $0.32 by $0.23, according to Zacks Investment Research. Despite the earnings miss, Lattice Semiconductor’s stock saw a rise of 3.9%, closing at $90.95 on the same day.
The company’s performance metrics reflect a return on equity of 4.73% and a net margin of 5.50%. Trading volume for Lattice Semiconductor reached 3,719,897 shares, significantly higher than its average volume of 1,963,543. The firm currently holds a market capitalization of $12.44 billion, with a price-to-earnings ratio of 454.77 and a P/E/G ratio of 3.74. Lattice Semiconductor’s stock has fluctuated between a one-year low of $34.69 and a one-year high of $91.46.
Analyst Ratings and Market Reactions
Recent analyst reports have provided a mixed outlook for Lattice Semiconductor. The Royal Bank of Canada initiated coverage on January 14, 2023, assigning an “outperform” rating with a target price of $105.00. Needham & Company reaffirmed a “buy” rating with a price objective of $80.00. On the other hand, Stifel Nicolaus raised its target price from $60.00 to $80.00 while maintaining a “buy” rating. Weiss Ratings assigned a “hold (c-)” rating, and Wall Street Zen downgraded the stock from “buy” to “hold.”
Overall, analysts have given Lattice Semiconductor an average rating of “buy,” with a consensus price target of $82.38, as reported by MarketBeat.com. The sentiment reflects a cautious optimism among investors, with one equities research analyst recommending a strong buy, twelve suggesting a buy, and one advising to hold.
Insider Transactions and Institutional Investments
In related news, insider trading activity has been notable at Lattice Semiconductor. Senior Vice President Tracy Ann Feanny sold 9,965 shares on December 18, 2023, at an average price of $73.44, totaling approximately $731,829.60. Following this sale, Feanny holds 61,740 shares valued at around $4,534,185.60, representing a 13.90% decrease in ownership.
Additionally, Senior Vice President Pravin Desale sold 5,708 shares on November 28, 2023, at an average price of $69.93, amounting to about $399,160.44. After this transaction, Desale’s remaining shares total 105,913, valued at approximately $7,406,496.09, indicating a 5.11% reduction in their stake. In the past three months, insiders sold 16,512 shares valued at $1,196,508, with insiders owning 1.19% of the company’s stock.
Institutional investors have also made significant moves recently. iSAM Funds UK Ltd acquired a new position in Lattice Semiconductor worth approximately $25,000 in the third quarter. Other new stakes included Measured Wealth Private Client Group LLC, valued at about $31,000, and Advisory Services Network LLC, with a position worth around $34,000. The State of Wyoming and Harvest Fund Management Co. Ltd also increased their holdings, further indicating institutional interest in the company. Notably, hedge funds and institutional investors collectively own 98.08% of Lattice Semiconductor.
Company Overview
Lattice Semiconductor Corporation is a U.S.-based semiconductor company that specializes in low-power and small-footprint programmable logic devices. Its product lineup includes field-programmable gate arrays (FPGAs) and programmable logic devices (PLDs), which enable customers to implement custom digital functions in energy-efficient and compact applications.
The company’s solutions are extensively used in edge computing, video and sensor interfaces, and flexible I/O connectivity across various markets. Notable FPGA families include the iCE40 series, designed for ultra-low power mobile applications, the MachXO series for embedded control and security, and the ECP5 series for midrange performance in communications, industrial automation, and automotive sectors.
As Lattice Semiconductor navigates a challenging earnings landscape, its stock performance and analyst ratings signal both investor interest and potential for future growth.
