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Lattice Semiconductor (LSCC) Gains As Market Dips: What You Should Know

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Lattice Semiconductor (LSCC - Free Report) closed the most recent trading day at $85.80, moving +0.73% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 10.47%.

Heading into today, shares of the chipmaker had lost 5.01% over the past month, lagging the Computer and Technology sector's loss of 1.96% and the S&P 500's gain of 2.61% in that time.

Wall Street will be looking for positivity from Lattice Semiconductor as it approaches its next earnings report date. This is expected to be May 1, 2023. On that day, Lattice Semiconductor is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 35.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $179.93 million, up 19.54% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.10 per share and revenue of $749.3 million. These totals would mark changes of +20% and +13.47%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Lattice Semiconductor. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.78% higher within the past month. Lattice Semiconductor is currently a Zacks Rank #2 (Buy).

Valuation is also important, so investors should note that Lattice Semiconductor has a Forward P/E ratio of 40.56 right now. For comparison, its industry has an average Forward P/E of 19.04, which means Lattice Semiconductor is trading at a premium to the group.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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