Tonya Stevens, the Interim CFO of Lattice (OTC:) Semiconductor Corp (NASDAQ:LSCC), recently sold 4,526 shares of the company’s common stock. The shares were sold at a price of $56.50 each, totaling $255,719. Following this transaction, Stevens holds 75,234 shares directly. The sale comes as the company trades at a high earnings multiple of 55.7x, with the stock currently valued at $58.03. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 3.98x and operates with moderate debt levels. This sale was reported in a filing with the Securities and Exchange Commission, dated December 2, 2024. While 11 analysts have revised their earnings downward for the upcoming period, InvestingPro data shows the company maintains profitability with a robust gross margin of 68.9%. Investors can access 14 additional exclusive ProTips and a comprehensive Research Report for LSCC through InvestingPro’s advanced analysis platform.
In other recent news, Lattice Semiconductor has experienced several significant developments. Following the company’s third-quarter results, which met expectations, and its lowered fourth-quarter guidance due to industrial sector challenges, KeyBanc Capital Markets reduced the price target for Lattice Semiconductor to $54. TD Cowen, CFRA, and Needham also revised their price targets for the company, with respective figures of $50, $48, and $56. Despite the downward adjustments, all firms maintain positive ratings on the company’s stock.
The company’s Q3 earnings per share (EPS) stood at $0.24 with a revenue of $127.1 million, marking a 34% decrease from the previous year due to inventory normalization. Lattice Semiconductor anticipates the industrial correction and inventory reduction to continue through the first half of 2025, followed by a U-shaped recovery. The company has also initiated a significant reduction in workforce and operating expenses to streamline operations.
Lattice Semiconductor projects low single-digit revenue growth and low double-digit earnings per share growth for 2025, with aspirations to return to model growth of 15-20% revenue growth in 2026. The company’s strategic measures include a 14% cut in its workforce and operating expenses, aiming to improve financial performance in the forthcoming years. These are the recent developments for Lattice Semiconductor.
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