These Analysts Slash Their Forecasts On Lattice Semiconductor After Downbeat Earnings
Portfolio Pulse from Avi Kapoor
Lattice Semiconductor Corporation (NASDAQ:LSCC) reported disappointing Q2 earnings and issued weak Q3 revenue guidance, leading to a significant drop in its stock price. Several analysts have downgraded their ratings and lowered their price targets for the company.
July 30, 2024 | 5:36 pm
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Lattice Semiconductor reported Q2 earnings of 23 cents per share, missing the consensus estimate of 24 cents. Revenue also fell short at $124.076 million versus the expected $130.172 million. The company issued weak Q3 revenue guidance, leading to a stock price drop of 8.1%. Analysts have downgraded their ratings and significantly lowered their price targets.
The disappointing Q2 earnings and weak Q3 guidance indicate potential short-term struggles for Lattice Semiconductor. The significant drop in stock price and multiple analysts lowering their price targets suggest a negative short-term outlook.
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