On August 5, Lattice Semiconductor fell 5.8% in regular trading, trading at approximately $130.00 per share, with turnover of $119 million. The decline came despite the company reporting Q2 results that significantly exceeded market expectations.
Lattice Semiconductor reported fiscal Q2 adjusted EPS of $0.53, beating the consensus estimate of $0.44 by over 20% and representing a 120.83% year-over-year increase. Revenue reached $201.1 million, surpassing the $185.6 million estimate with 62.2% year-over-year growth. The company also guided Q3 adjusted EPS of $0.54-$0.58 on revenue of $245-$265 million, well above analyst expectations of $0.47 EPS on $201.6 million revenue.
However, the stock had surged 8.75% in the prior trading session ahead of the earnings release, suggesting the market had already priced in strong results. Bank of America raised its target price to $125 from $105, still below the current trading level. Additionally, the company completed its $1.65 billion acquisition of AMI in late July, with short-term integration concerns prompting profit-taking in a classic buy-the-rumor, sell-the-news pattern.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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