Lattice Semiconductor (LSCC) Q2 Earnings and Revenues Miss Estimates

Core Viewpoint - Lattice Semiconductor reported disappointing earnings and revenues for the quarter ended June 2024, missing consensus estimates and showing a significant decline compared to the previous year [2][8]. Financial Performance - Lattice posted revenues of $124.08 million, missing the Zacks Consensus Estimate by 4.59%, and down from $190.08 million year-over-year [2]. - The company reported earnings of $0.23 per share, below the Zacks Consensus Estimate of $0.24 per share, and a decrease from $0.52 per share a year ago [8]. - The earnings surprise for the quarter was -4.17%, with no surprise reported in the previous quarter [1]. Stock Performance - Lattice shares have declined approximately 20.2% since the beginning of the year, contrasting with the S&P 500's gain of 14.5% [3]. - The company has surpassed consensus EPS estimates only once in the last four quarters [9]. Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.30 on revenues of $142.43 million, and for the current fiscal year, it is $1.18 on revenues of $566.87 million [5]. - The estimate revisions trend for Lattice is mixed, leading to a Zacks Rank of 3 (Hold), indicating expected performance in line with the market [12]. - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [10]. Industry Context - The Electronics - Semiconductors industry is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [13].