Semiconductor maker Lattice (OTC:) Semiconductor (NASDAQ:LSCC) will report earnings tomorrow afternoon. Here’s what investors need to know.
Lattice Semiconductor missed analysts’ revenue expectations last quarter by 3.3%, reporting revenue of $170.6 million, down 3% from the year-ago period. It was a weak quarter for the company, with revenue forecasts for the next quarter disappointing and analysts’ revenue estimates missing.
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Analysts expect Lattice Semiconductor’s revenue to decline 23.9% year over year to $140.2 million this quarter, a reversal from the 22.5% growth recorded in the same quarter last year. Adjusted earnings are expected to be $0.28 per share.
Most analysts covering the company have reiterated their estimates over the past 30 days, suggesting they expect the business to continue on its earnings path. Over the past two years, Lattice Semiconductor missed Wall Street revenue estimates only once, beating revenue expectations by an average of 1.4%.
Looking at Lattice Semiconductor’s competitors in the semiconductor space, several of them have already reported their first quarter results, giving us a hint of what we can expect. Intel (NASDAQ:) posted revenue growth of 8.6% year over year, beating analysts’ expectations, while SMART reported a 26.7% decline in revenue, in line with Wall Street consensus estimates. Intel shares fell 6% after the results were released, while SMART shares also fell 10.5%.
Read the full analysis of Intel and SMART on StockStory.
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Growth stocks are seeing increased volatility as investors debate Fed policy, and while some semiconductor stocks are doing slightly better, they haven’t been spared, with the share price down 2.9% over the past month. Lattice Semiconductor shares are down 2.8% over the same period and are approaching earnings, with an average analyst price target of $75.7 (versus the share price of $75.8).