What's Going On With Lattice Semiconductor Shares Today?
Portfolio Pulse from Lekha Gupta
Lattice Semiconductor Corp (NASDAQ:LSCC) reported mixed Q4 FY23 results with revenue of $170.6 million missing estimates but adjusted EPS of $0.45 beating expectations. The company saw double-digit annual revenue growth in 2023, record gross margin, and profit expansion. It repurchased 900,000 shares and has authorization for up to an additional $250 million shares repurchase through December 2024. The Q1 FY24 revenue outlook is below estimates at $130 million-$150 million. LSCC shares are up 1.7%.
February 13, 2024 | 3:25 pm
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Lattice Semiconductor reported mixed Q4 FY23 results, with a revenue miss but an EPS beat. The company has a positive outlook with double-digit annual revenue growth and a strong repurchase program. However, the Q1 FY24 revenue outlook is below estimates.
The mixed Q4 FY23 results with a revenue miss but an EPS beat indicate a neutral short-term impact on LSCC's stock price. The positive annual growth and repurchase program are encouraging, but the lower-than-expected Q1 FY24 revenue outlook could temper investor enthusiasm. The stock's rise of 1.7% suggests a cautiously optimistic market response.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100