Semiconductor designer Lattice Semiconductor (NASDAQ: LSCC) will be announcing earnings results this Monday after market hours. Here’s what to look for.
Lattice Semiconductor beat analysts’ revenue expectations last quarter, reporting revenues of $145.8 million, up 24.2% year on year. It was a very strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and a significant improvement in its inventory levels.
Is Lattice Semiconductor a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Lattice Semiconductor’s revenue to grow 37.3% year on year, a reversal from the 14.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lattice Semiconductor has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Lattice Semiconductor’s peers in the processors and graphics chips segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Intel delivered year-on-year revenue growth of 7.2%, beating analysts’ expectations by 9.6%, and Penguin Solutions reported a revenue decline of 6.2%, topping estimates by 0.8%. Intel traded up 23.6% following the results while Penguin Solutions was also up 13.4%.
Read our full analysis of Intel’s results here and Penguin Solutions’s results here.
There has been positive sentiment among investors in the processors and graphics chips segment, with share prices up 34.9% on average over the last month. Lattice Semiconductor is up 25.6% during the same time and is heading into earnings with an average analyst price target of $120.79 (compared to the current share price of $122.09).
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