Semiconductor designer Lattice (OTC:) Semiconductor (NASDAQ:LSCC) will report earnings tomorrow afternoon. Here’s what investors need to know.
Lattice Semiconductor missed analysts’ revenue expectations by 3.3% last quarter, reporting revenue of $170.6 million, down 3% year over year. It was a weak quarter for the company, with disappointing revenue expectations for the next quarter and missing analysts’ revenue estimates.
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This quarter, analysts expect Lattice Semiconductor’s revenue to decline 23.9% year over year to $140.2 million, a reversal from the 22.5% increase recorded in the same quarter last year. Adjusted earnings are expected to be $0.28 per share.
The majority of analysts covering the company have reaffirmed their estimates from the last thirty days, suggesting they expect the company to continue its trajectory on the earnings front. Lattice Semiconductor has missed Wall Street revenue estimates just once in the last two years and has exceeded revenue expectations by an average of 1.4%.
Looking at Lattice Semiconductor’s peers in the semiconductor segment, some have already reported their first quarter results, which gives us an idea of what to expect. Intel (NASDAQ:) posted 8.6% year-over-year revenue growth, meeting analyst expectations, and SMART reported a 26.7% revenue decline, in line with Wall Street consensus estimates. Intel fell 6% after the results, while SMART also fell 10.5%.
Read the full analysis of Intel and SMART’s results on StockStory.
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Growth stocks have seen increased volatility as investors debate Fed policy. While some semiconductor stocks have done slightly better, they haven’t been spared, with the stock price down 2.9% over the past month. Lattice Semiconductor is down 2.8% over the same period and is heading for gains with an average price target of $75.7 (compared to the stock price of $75.8).
