Why Lattice Semiconductor Shares Jumped
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What: Shares of Lattice Semiconductor have jumped today by as much as 22% after the company reported better-than-expected earnings.
So what: Revenue in the fourth quarter came in at $65.9 million, which was down 6.1% from the prior year, but in line with forecasts. That resulted in a net loss of $0.06 per share, which topped the consensus estimate of a $0.07-per-share loss.
Now what: The company also provided outlook, expecting revenue in the first quarter to decline 2% to 4% sequentially with gross margin of 54%, plus or minus 2%. Operating expenses should be roughly $35.5 million. Following up the results, shares received an upgrade from Craig-Hallum, which boosted its rating from neutral to buy along with a price target of $5.
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The article Why Lattice Semiconductor Shares Jumped originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. 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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