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Lattice Semiconductor Meets on the Top Line, Misses Where it Counts

By Seth Jayson - Updated Apr 10, 2017 at 1:47PM

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Just the facts, Fool.

Lattice Semiconductor (Nasdaq: LSCC) reported earnings on April 18. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 30 (Q1), Lattice Semiconductor met expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly. GAAP earnings per share grew.

Gross margins dropped, operating margins expanded, net margins grew.

Revenue details
Lattice Semiconductor reported revenue of $71.2 million. The five analysts polled by S&P Capital IQ predicted sales of $70.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.02. The three earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. GAAP EPS were $0.02 for Q1 versus -$0.07 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 53.6%, 150 basis points worse than the prior-year quarter. Operating margin was 5.0%, 160 basis points better than the prior-year quarter. Net margin was 2.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $83.6 million. On the bottom line, the average EPS estimate is $0.06.

Next year's average estimate for revenue is $323.4 million. The average EPS estimate is $0.22.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 125 members out of 143 rating the stock outperform, and 18 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give Lattice Semiconductor a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lattice Semiconductor is buy, with an average price target of $6.35.

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Stocks Mentioned

Lattice Semiconductor Corporation Stock Quote
Lattice Semiconductor Corporation
LSCC
$47.54 (-2.62%) $-1.28

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