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Why is Lattice Semiconductor Corp (LSCC) Stock down?
We've noticed a 5.28% decline in Lattice Semiconductor Corp (LSCC) stock during the 2024-10-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
31 Oct, 2023:
Shares of Lattice Semiconductor Corporati (LSCC) dropped by 17.36% from $67.29 to $55.61 in the trading on Tuesday, October 31, 2023. The reason why LSCC down is due to disappointing fourth-quarter guidance despite the company surpassing third-quarter earnings expectations:
- Initially, analysts had projected earnings of around $0.52 per share with sales near $192.1 million. Lattice exceeded these forecasts, achieving earnings of $0.53 per share (a 10% year-over-year increase) and revenue of $192.2 million (an 11% increase).
- However, optimism waned when investors reviewed management's fourth-quarter guidance, which indicated top-line sales of approximately $176 million—higher than the previous year's $142 million but falling significantly short of the analyst consensus of $196 million.
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