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Lattice Semiconductor Corp (LSCC - Snapshot Report) has recently announced Lattice Diamond v2.2 software and iCEcube2 software, both designed to support the FPGA device family.

FPGAs or field programmable gate arrays are semiconductor devices that allow programming/reprogramming even after the device has been installed. This flexibility makes the devices more expensive compared to regular programmable logic devices (PLDs) and therefore their use is relatively restricted.

The software will offer leading-edge design and implementation tools optimized for cost sensitive, low-power Lattice FPGA architectures. Lattice’s new software has been designed to enable faster data processing and consume less power, a prerequisite for hardware designers.

These new software releases will support new additions to Lattice's ultra-low density FPGA product line that not only offers power and cost advantages, but also includes reference designs and application notes that speed up the entire development process, including the time to market.

According to a Research and Markets report, the global FPGA market is poised to grow at a compounded annual growth rate (CAGR) of 10.4% from 2011 to 2015 driven by the growing demand for customizable integrated circuits (ICs).

Demand for FPGAs are increasing since they allow increased flexibility in terms of creating designs and enable electronic device manufacturing companies to minimize their research and development (R&D) costs. The bright prospects in the FPGA space can prove to be a long-term growth driver for Lattice.

Lattice Semiconductor designs, develops and markets high performance programmable logic devices and related development system software. The company’s first quarter revenues were down 0.7% from the year-ago period to $71.2 million. Revenues from FPGA were also down 1.7% year over year to $22.9 million.

Currently, Lattice has a Zacks Rank #3 (Hold). Other semiconductor stocks that have been performing well and are worth considering include Magnachip Semiconductor , Microchip Technology (MCHP - Analyst Report) and Maxlinear Inc. (MXL - Snapshot Report), all carrying a Zacks Rank #2 (Buy).

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