Lattice Semiconductor Stock Tumbles 16% On Worse-Than-Expected Results and Outlook

Tiger Newspress07-30

Lattice Semiconductor Corporation shares tumbled 16.1% in premarket trading Tuesday after the company reported its second-quarter financial results Monday. Revenue guidance for the third quarter was also weaker than analysts’ estimates. Here's a look at the keyfigures from the report.

The Details: Lattice Semiconductor reported quarterly earnings of 23 cents per share, which missed the analyst consensus estimate of 24 cents and is a 55.77% decrease from the same period last year.

Quarterly sales came in at $124.076 million, which missed the analyst consensus estimate of $130.172 million by 4.68% and represents a 34.72% decrease from the same period last year. Gross margin was 69%.

“Second quarter 2024 results reflect the impact of cyclic industry headwinds. While the industry continues to go through a period of inventory normalization, we are starting to see signs of improvement. We continue to execute on our ongoing product portfolio expansion and remain well positioned for long-term growth,” said Esam Elashmawi, interim CEO of Lattice.

Outlook: Lattice expects revenue for the third quarter of 2024 to be between $117 million and $137 million and gross margin to be 69%, plus or minus 1%.

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Revenue guidance for the third quarter was ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LSCC","symbol_name":"莱迪思半导体","start_time":0,"source_url":"","article_id":"1151597905","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1151597905","pubTimestamp":1722327929,"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"Lattice Semiconductor Corporation shares tumbled 16.1% in premarket trading Tuesday after the company reported its second-quarter financial results Monday. Revenue guidance for the third quarter was also weaker than analysts’ estimates. 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