Lattice Semiconductor Misses Where it Counts

Seth Jayson, The Motley Fool
Updated

Lattice Semiconductor (NAS: LSCC) reported earnings on July 25. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 29 (Q2), Lattice Semiconductor beat slightly on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded.


Margins increased across the board.

Revenue details
 Lattice Semiconductor tallied revenue of $84.7 million. The four analysts polled by S&P Capital IQ hoped for revenue of $83.6 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $70.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.05. The three earnings estimates compiled by S&P Capital IQ predicted $0.06 per share. Non-GAAP EPS of $0.05 for Q2 were 400% higher than the prior-year quarter's $0.01 per share. GAAP EPS were $0.04 for Q2 compared to -$0.11 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 53.3%, 100 basis points better than the prior-year quarter. Operating margin was 9.2%, much better than the prior-year quarter. Net margin was 6.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $85.1 million. On the bottom line, the average EPS estimate is $0.07.

Next year's average estimate for revenue is $325.4 million. The average EPS estimate is $0.23.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 125 members out of 142 rating the stock outperform, and 17 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give Lattice Semiconductor a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lattice Semiconductor is buy, with an average price target of $7.00.

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The article Lattice Semiconductor Misses Where it Counts originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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