Lattice Semiconductor (LSCC)
NASDAQ:LSCC
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Lattice Semiconductor
(NASDAQ:LSCC)
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Rating:73Outperform
Price Target:
$99.00
▲(4.19% Upside)
Action:ReiteratedDate:02/12/26
The score is driven by strong earnings-call outlook (accelerating growth and margin leverage) and a solid financial foundation (low leverage and healthy cash generation), supported by positive technical trend. These positives are tempered by very weak TTM profitability and a highly stretched valuation (extreme P/E) that increases downside risk if execution or supply conditions disappoint.
Positive Factors
Balance sheet strength and low leverage
Very low leverage and a sizable equity base provide durable financial flexibility to fund product ramps, pre-pay supply, and return capital via buybacks without relying on external debt. This resilience supports multi-quarter execution and positioning through semiconductor cycles.
Negative Factors
Compressed profitability and earnings volatility
Despite robust gross margins, severe erosion in net and EBIT margins creates earnings volatility and weak ROE. Below-the-line pressures mean top-line growth may not translate reliably into retained earnings, constraining investment flexibility and raising execution dependency for recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength and low leverage
Very low leverage and a sizable equity base provide durable financial flexibility to fund product ramps, pre-pay supply, and return capital via buybacks without relying on external debt. This resilience supports multi-quarter execution and positioning through semiconductor cycles.
Read all positive factors
Lattice Semiconductor (LSCC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.01B
Dividend YieldN/A
Average Volume (3M)1.74M
Price to Earnings (P/E)3496.2
Beta (1Y)2.25
Revenue Growth-12.03%
EPS Growth-80.99%
CountryUS
Employees1,110
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.32
Shares Outstanding136,869,430
10 Day Avg. Volume1,697,435
30 Day Avg. Volume1,736,395
Financial Highlights & Ratios
PEG Ratio-36.85
Price to Book (P/B)15.10
Price to Sales (P/S)20.61
P/FCF Ratio81.33
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue24.73
Enterprise Value/Gross Profit37.19
Enterprise Value/Ebitda226.39
Forecast
1Y Price Target
$110.08Price Target Upside15.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)1.47
Revenue Forecast (FY)$632.51M
Lattice Semiconductor Business Overview & Revenue Model
Company Description
Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the ...
How the Company Makes Money
Lattice primarily makes money by selling programmable semiconductor devices and the supporting ecosystem needed to deploy them.
Key revenue streams:
- FPGA / programmable logic device sales: The largest component of revenue comes from selling low...
Lattice Semiconductor Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyLattice Semiconductor Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call presented a strong operational and financial recovery with robust top-line acceleration (Q4 revenue +24.2% YoY), meaningful margin expansion, record design wins, and conservative balance-sheet management (debt-free, buybacks). Management provided confident, above-consensus Q1 guidance (midpoint +37% YoY) and reiterated multi-year growth drivers (data center AI attach rates, product ramps, and record design wins). Headwinds include 2025 weakness in industrial & automotive (-18%) from channel normalization, near-term supply-chain and lead-time constraints, increased OpEx in early 2026 for R&D, and elevated non-GAAP tax rates. On balance, the positives — accelerating demand, margin leverage, cash generation, normalized channel inventory, and product momentum — substantially outweigh the listed challenges, though successful execution and supply management remain critical.Positive Updates
Quarterly and Annual Revenue Growth
Q4 revenue of $145.8M, up 9.3% sequentially and 24.2% year-over-year; full-year 2025 revenue of $523.3M, up 2.7% versus 2024 and in line with expectations.
Negative Updates
Industrial & Automotive Softness
Full-year industrial and automotive revenue declined ~18% in 2025 as channel inventory normalization progressed, which partially offset communications and compute growth.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly and Annual Revenue Growth
Q4 revenue of $145.8M, up 9.3% sequentially and 24.2% year-over-year; full-year 2025 revenue of $523.3M, up 2.7% versus 2024 and in line with expectations.
Read all positive updates
Company Guidance
Lattice's guidance for Q1 2026 calls for revenue of $158–172 million (midpoint $165M), which the company says implies >37% year‑over‑year growth and ~13% sequential growth; Q1 non‑GAAP EPS of $0.34–$0.38 (midpoint $0.36), roughly +65% YoY; non‑GAAP gross margin of ~69.5% ±100 bps; non‑GAAP operating expense of $59–61M; and a Q1 non‑GAAP tax rate of ~46%. For full‑year 2026 management reiterated it expects at least 20% revenue growth (with improved visibility to growth above that), full‑year gross margin in the same ~69.5% range (with mix variability), a non‑GAAP tax rate of ~47%, and new‑product revenue to reach the mid‑20% range of total revenue (after new‑product revenue grew ~70% in 2025); the company also noted normalized channel inventory, that revenue should more closely track consumption, and a Board‑authorized additional $250M share‑repurchase program.Lattice Semiconductor Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
88
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 523.26M | 509.40M | 737.15M | 660.36M | 515.33M |
| Gross Profit | 356.94M | 340.40M | 514.67M | 452.05M | 321.68M |
| EBITDA | 57.59M | 106.94M | 255.37M | 226.26M | 133.94M |
| Net Income | 3.08M | 61.13M | 259.06M | 178.88M | 95.92M |
Balance Sheet | |||||
| Total Assets | 883.12M | 843.90M | 840.89M | 798.71M | 726.49M |
| Cash, Cash Equivalents and Short-Term Investments | 133.89M | 136.29M | 128.32M | 145.72M | 131.57M |
| Total Debt | 78.23M | 15.25M | 27.05M | 148.82M | 182.88M |
| Total Liabilities | 169.07M | 132.97M | 148.87M | 311.55M | 314.86M |
| Stockholders Equity | 714.05M | 710.93M | 692.02M | 487.16M | 411.63M |
Cash Flow | |||||
| Free Cash Flow | 132.58M | 119.89M | 236.34M | 215.47M | 157.89M |
| Operating Cash Flow | 175.11M | 140.88M | 269.59M | 238.81M | 167.72M |
| Investing Cash Flow | -62.31M | -37.69M | -33.25M | -34.93M | -89.80M |
| Financing Cash Flow | -115.70M | -94.46M | -253.72M | -188.07M | -128.61M |
Lattice Semiconductor Technical Analysis
Positive
95.02
Price Trends
91.46
Positive
83.07
Positive
72.81
Positive
Market Momentum
0.58
Negative
52.83
Neutral
58.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LSCC, the sentiment is Positive. The current price of 95.02 is above the 20-day moving average (MA) of 91.80, above the 50-day MA of 91.46, and above the 200-day MA of 72.81, indicating a bullish trend. The MACD of 0.58 indicates Negative momentum. The RSI at 52.83 is Neutral, neither overbought nor oversold. The STOCH value of 58.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LSCC.
Lattice Semiconductor Risk Analysis
Lattice Semiconductor disclosed 28 risk factors in its most recent earnings report. Lattice Semiconductor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lattice Semiconductor Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $14.06B | 38.14 | 22.70% | ― | 39.37% | 40.87% | |
73 Outperform | $13.01B | 3,496.18 | 0.44% | ― | -12.03% | -80.99% | |
66 Neutral | $17.88B | 67.11 | 12.60% | ― | 32.58% | -173.04% | |
65 Neutral | $10.03B | 42.96 | 18.29% | ― | 31.05% | 30.35% | |
64 Neutral | $8.30B | 30.39 | 6.83% | 4.37% | -2.18% | -16.84% | |
64 Neutral | $7.30B | 12.18 | 9.71% | ― | -7.22% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
LSCC
Lattice Semiconductor
95.02
55.45
140.13%
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Lattice Semiconductor Corporate Events
Executive/Board Changes
Lattice Semiconductor Announces Resignation of Chief Accounting Officer
Neutral
Mar 12, 2026
On March 11, 2026, Lattice Semiconductor Corporation announced that its Chief Accounting Officer, Tonya Stevens, submitted her resignation, effective March 29, 2026. The company stated that her departure is not due to any disagreement regarding it...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.