The 10-second takeaway
For the quarter ended March 31 (Q1), Lattice Semiconductor met expectations on revenue and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Lattice Semiconductor booked revenue of $71.7 million. The six analysts polled by S&P Capital IQ anticipated a top line of $72.3 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $82.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at -$0.03. The six earnings estimates compiled by S&P Capital IQ predicted $0.02 per share on the same basis. GAAP EPS were -$0.07 for Q1 compared to $0.09 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 55.1%, 490 basis points worse than the prior-year quarter. Operating margin was 3.4%, 1,150 basis points worse than the prior-year quarter. Net margin was -10.8%, 2,400 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $78.0 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $323.3 million. The average EPS estimate is $0.32.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 122 members out of 138 rating the stock outperform, and 16 members rating it underperform. Among 29 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Lattice Semiconductor a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lattice Semiconductor is outperform, with an average price target of $8.42.
Is Lattice Semiconductor the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead in our free report: "The Next Trillion-Dollar Revolution." Click here for instant access to this free report.
- Add Lattice Semiconductor to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.