Lattice Semiconductor Reports Q1 Results, Guides Q2 Revenue Below Estimates
Portfolio Pulse from Erica Kollmann
Lattice Semiconductor Corporation (NASDAQ:LSCC) reported Q1 earnings of 29 cents per share, surpassing estimates by 1 cent but marking a 43.14% decrease from the previous year. Q1 sales were $140.815 million, slightly above estimates and down 23.6% year-over-year. The company anticipates Q2 revenue to be below analyst expectations, estimating between $120 million and $140 million against a $140.46 million forecast. Lattice shares fell 5.67% in after-hours trading to $72.50.
April 29, 2024 | 8:29 pm
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Lattice Semiconductor exceeded Q1 earnings expectations but reported a significant decrease from last year. Q2 revenue guidance is below analyst estimates, impacting after-hours stock price negatively.
The company's earnings beat and sales performance indicate resilience, yet the significant year-over-year decline and lower-than-expected Q2 revenue guidance suggest potential challenges ahead. This mixed report, coupled with the immediate negative after-hours price action, suggests a short-term bearish outlook for LSCC shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100