Stock Track | Lattice Semiconductor Stock Surges Despite Q3 Earnings Miss

Stock Track11-06

Shares of Lattice Semiconductor Corporation (NASDAQ: LSCC) soared by 6.17% on Tuesday, despite the company reporting weaker-than-expected financial results for the third quarter of 2024.

The semiconductor company's Q3 revenue declined by 34% year-over-year to $127.1 million, missing analyst estimates. Lattice Semiconductor's net income plunged 87% to $7.19 million, and its earnings per share (EPS) of $0.052 missed expectations by a significant 68%.

However, investors appeared to be encouraged by the company's forward-looking statements. Lattice Semiconductor forecasted an average revenue growth rate of 6.7% per annum over the next three years, outpacing the 18% growth forecast for the broader U.S. semiconductor industry. This positive outlook, coupled with the company's strong balance sheet position, may have fueled the stock's surge despite the disappointing quarterly results.

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