On August 5, Lattice Semiconductor fell 6.52% in pre-market trading, trading at $130.0/share, with turnover of $659,500.
On the news front, the company reported Q2 adjusted EPS of $0.53, significantly beating the analyst consensus of $0.44, representing a 120.83% year-over-year increase. Revenue reached $201.1 million versus the expected $185.6 million, up 62.2% year-over-year. Q3 guidance also far exceeded expectations, with projected adjusted EPS of $0.54-$0.58 on revenue of $245-$265 million versus consensus estimates of $0.47 EPS and $201.6 million revenue.
Despite the strong beat, the stock had already surged 8.75% in the session prior to the earnings release, suggesting the market had largely priced in robust results. Additionally, the company completed its $1.65 billion acquisition of AMI in late July, with short-term integration concerns prompting some profit-taking — 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.)
Comments