These Analysts Boost Their Forecasts On Lattice Semiconductor Following Q1 Earnings
Portfolio Pulse from Avi Kapoor
Lattice Semiconductor Corporation (NASDAQ:LSCC) reported Q1 earnings of 29 cents per share, surpassing the consensus estimate of 28 cents but marking a 43.14% decrease from the previous year. Q1 sales were $140.815 million, slightly above estimates but 23.6% lower year-over-year. The company issued a Q2 revenue forecast below analyst expectations. Following the earnings announcement, analysts from Needham, Susquehanna, and Benchmark raised their price targets on LSCC, which saw its shares rise 4%.
April 30, 2024 | 12:57 pm
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Lattice Semiconductor exceeded Q1 earnings expectations and saw a 4% stock price increase, despite a lower year-over-year performance and a cautious Q2 revenue outlook.
The positive reaction in Lattice Semiconductor's stock price, despite a year-over-year decline in earnings and sales, can be attributed to the company beating Q1 earnings estimates and the subsequent upward revision of price targets by analysts. This suggests investor confidence in the company's long-term prospects despite near-term headwinds. The cautious Q2 revenue forecast may temper some of the optimism, but the overall analyst sentiment and immediate stock price reaction indicate a positive short-term impact.
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