Please ensure Javascript is enabled for purposes of website accessibility

Why Lattice Semiconductor Corporation Shares Jumped Today

By Evan Niu, CFA - May 10, 2016 at 12:25PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Lattice expects sales to bounce back from here.

Image source: Lattice Semiconductor.

What: Shares of Lattice Semiconductor (LSCC 7.57%) have jumped today, up by 9% as of 12:03 p.m. ET, after the company reported first-quarter earnings.

So what: Revenue in the first quarter came in at $96.5 million, which translated into an adjusted net loss of $1 million, or $0.01 per share. While the top line was a little light compared to the consensus estimate of $97.8 million, the bottom line narrowly beat expectations of $0.02 per share in adjusted losses. Gross margin was 60% on a non-GAAP basis.

Now what: CEO Darin G. Billerbeck reiterated that the first half of 2016 is expected to be soft due to seasonal factors in several end markets such as mobile handsets and digital TVs. The company was able to deliver stronger profitability, despite lower sales. The first quarter is expected to be a "low point in revenue for the year," according to Billerbeck. Sales should trend higher in the second half. Guidance for the second quarter calls for sales in the range of $97 million to $103 million.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Lattice Semiconductor Corporation Stock Quote
Lattice Semiconductor Corporation
LSCC
$52.01 (7.57%) $3.66

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
321%
 
S&P 500 Returns
111%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/25/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.