HILLSBORO, OR—Desale Pravin, Senior Vice President of Research & Development at Lattice (OTC:LTTC) Semiconductor Corp (NASDAQ:LSCC), recently sold 4,387 shares of the company's common stock. The sale, which took place on November 18, 2024, was executed at a weighted average price of $50.01 per share, resulting in a total transaction value of approximately $219,393.
This transaction was conducted under a pre-established 10b5-1 trading plan, which was adopted on August 19, 2024. The shares were sold in multiple trades, with prices ranging from $49.42 to $50.41. Following the sale, Pravin holds 365 shares in the company.
In other recent news, China's semiconductor industry, including Jinan Lujing Semiconductor Co, is ramping up investments and strengthening international relationships amid potential U.S. policy challenges. The sector is focusing on self-reliance, with an increased import of chipmaking equipment, and a 33% surge to $24.12 billion in the first nine months of the year.
In other developments, Lattice Semiconductor (NASDAQ:LSCC) has seen its stock target reduced by several analyst firms, including KeyBanc Capital Markets, TD (TSX:TD) Cowen, CFRA, and Needham due to ongoing challenges in the industrial sector. Despite the reductions, all firms maintain positive ratings on the company's stock.
Lattice Semiconductor's third-quarter earnings per share (EPS) of $0.24 and revenue of $127.1 million marked a 34% decrease from the previous year due to inventory normalization. The company has also implemented a 14% reduction in its workforce and operating expenses to enhance efficiency.
These recent developments reflect Lattice Semiconductor's strategic focus on stabilizing operations and executing its current product roadmap. The company anticipates a U-shaped recovery with low single-digit revenue growth in 2025.
InvestingPro Insights
As Lattice Semiconductor Corp (NASDAQ:LSCC) experiences insider selling, it's crucial to consider the broader financial context of the company. According to InvestingPro data, LSCC has a market capitalization of $6.7 billion, reflecting its significant presence in the semiconductor industry. The company's P/E ratio stands at 46.88, indicating that investors are willing to pay a premium for its earnings, which aligns with the InvestingPro Tip that LSCC is "Trading at a high earnings multiple."
Despite the recent insider sale, LSCC has demonstrated strong financial performance, with a gross profit margin of 68.9% for the last twelve months as of Q3 2024. This robust margin suggests the company maintains efficient operations and pricing power in its market segment. Additionally, an InvestingPro Tip highlights that LSCC "Operates with a moderate level of debt," which could provide financial flexibility in the dynamic semiconductor industry.
However, investors should note that LSCC's stock has taken a significant hit over the last six months, with a price total return of -33.82%. This decline may be related to another InvestingPro Tip indicating that "Analysts anticipate sales decline in the current year." For a more comprehensive analysis, InvestingPro offers 13 additional tips that could provide valuable insights into LSCC's financial health and future prospects.
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