Semiconductor designer Lattice Semiconductor (NASDAQ:LSCC) will be announcing earnings results tomorrow afternoon. Here’s what to look for.
Lattice Semiconductor met analysts’ revenue expectations last quarter, reporting revenues of $117.4 million, down 31.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income and EPS estimates.
Is Lattice Semiconductor a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lattice Semiconductor’s revenue to decline 14.7% year on year to $120.1 million, improving from the 23.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
Analysts covering the company have generally 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 four 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. Qorvo’s revenues decreased 7.6% year on year, beating analysts’ expectations by 2.2%, and Intel reported flat revenue, topping estimates by 2.6%. Qorvo traded up 14.4% following the results while Intel was down 6.7%.
Read our full analysis of Qorvo’s results here and Intel’s results here.
There has been positive sentiment among investors in the processors and graphics chips segment, with share prices up 18.7% on average over the last month. Lattice Semiconductor is up 28.9% during the same time and is heading into earnings with an average analyst price target of $64.02 (compared to the current share price of $51).
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