Stock Story -
Semiconductor designer Lattice Semiconductor (NASDAQ:LSCC) will be announcing earnings results tomorrow after market close. Here's what to look for.
Lattice Semiconductor met analysts' revenue expectations last quarter, reporting revenues of $140.8 million, down 23.6% year on year. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a decline in its operating margin.
Is Lattice Semiconductor a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Lattice Semiconductor's revenue to decline 31.5% year on year to $130.2 million, a reversal from the 17.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lattice Semiconductor has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.1% on average.
Looking at Lattice Semiconductor's peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. SMART's revenues decreased 12.7% year on year, meeting analysts' expectations, and Micron Technology (NASDAQ:MU) reported revenues up 81.5%, topping estimates by 2%. SMART traded up 26.3% following the results while Micron Technology was down 7.1%.
Read the full analysis of SMART's and Micron Technology's results on StockStory.
Inflation fears have put pressure on growth stocks, and while some of the semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 3.7% on average over the last month. Lattice Semiconductor is down 3.7% during the same time and is heading into earnings with an average analyst price target of $80 (compared to the current share price of $55.59).