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Lattice (LSCC) Up 23.8% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for Lattice Semiconductor (LSCC - Free Report) . Shares have added about 23.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Lattice due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Lattice's Q1 Earnings Beat Estimates on Solid Revenue Growth
Lattice reported strong first-quarter 2026 results with both adjusted earnings and revenues beating the Zacks Consensus Estimate.
The Hillsboro-based semiconductor company posted a 42.2% year-over-year increase in revenues, driven by strong demand for its low-power FPGAs in artificial intelligence (AI) and data center applications, along with growth across all end markets.
Net Income
Net income on a GAAP basis was $21.8 million or 16 cents per share compared with $5 million or 4 cents per share in the prior-year quarter. Top-line growth boosted the bottom line during the quarter.
Non-GAAP net income in the reported quarter was $57 million or 41 cents per share compared with $30.7 million or 22 cents per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate by 5 cents.
Revenues
Net sales in the quarter rose to $170.9 million from $120.2 million in the year-ago quarter, backed by solid growth in the Compute and Communications end market, which contributed 62.4% of the total revenues. The top line beat the Zacks Consensus Estimate of $163.3 million.
In the first quarter, Compute and Communications revenues increased to $106.6 million from $57.4 million, driven by continued momentum in data center AI applications. Revenues from Industrial and Embedded increased to $64.3 million from $62.8 million in the prior-year quarter.
Region-wise, in the first quarter of 2026, the company generated 78% of revenues from Asia, while the Americas, along with Europe and Africa, contributed 11% each.
Other Details
Non-GAAP gross profit aggregated $119.6 million compared with $82.9 million in the year-ago quarter, with respective margins of 70% and 69%. During the quarter, non-GAAP operating expenses increased to $60.8 million from the prior-year figure of $51.4 million, and adjusted EBITDA increased to $67.8 million from $40.1 million in the year-ago quarter, with respective margins of 39.6% and 33.4%.
Cash Flow & Liquidity
In the first quarter, Lattice generated $50.3 million in cash from operations compared with $31.9 million in the year-earlier quarter. As of April 4, 2026, it had $140 million in cash and cash equivalents with $ 34.1 million of long-term operating lease liabilities (net of current portion).
Outlook
For the second quarter of 2026, Lattice expects revenues in the range of $175-$195 million. Non-GAAP gross margin is anticipated to be in the band of 69-71%. Non-GAAP total operating expenses are projected to be in the range of $64-$67 million, and non-GAAP earnings are expected to be in the range of 42-46 cents per share.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates review.
The consensus estimate has shifted 11.65% due to these changes.
VGM Scores
Currently, Lattice has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock was allocated a score of F on the value side, putting it in the lowest quintile for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Lattice has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
Lattice is part of the Zacks Electronics - Semiconductors industry. Over the past month, Qualcomm (QCOM - Free Report) , a stock from the same industry, has gained 29.1%. The company reported its results for the quarter ended March 2026 more than a month ago.
Qualcomm reported revenues of $10.6 billion in the last reported quarter, representing a year-over-year change of -2.2%. EPS of $2.65 for the same period compares with $2.85 a year ago.
For the current quarter, Qualcomm is expected to post earnings of $2.27 per share, indicating a change of -18.1% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Qualcomm has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
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Lattice (LSCC) Up 23.8% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Lattice Semiconductor (LSCC - Free Report) . Shares have added about 23.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Lattice due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Lattice's Q1 Earnings Beat Estimates on Solid Revenue Growth
Lattice reported strong first-quarter 2026 results with both adjusted earnings and revenues beating the Zacks Consensus Estimate.
The Hillsboro-based semiconductor company posted a 42.2% year-over-year increase in revenues, driven by strong demand for its low-power FPGAs in artificial intelligence (AI) and data center applications, along with growth across all end markets.
Net Income
Net income on a GAAP basis was $21.8 million or 16 cents per share compared with $5 million or 4 cents per share in the prior-year quarter. Top-line growth boosted the bottom line during the quarter.
Non-GAAP net income in the reported quarter was $57 million or 41 cents per share compared with $30.7 million or 22 cents per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate by 5 cents.
Revenues
Net sales in the quarter rose to $170.9 million from $120.2 million in the year-ago quarter, backed by solid growth in the Compute and Communications end market, which contributed 62.4% of the total revenues. The top line beat the Zacks Consensus Estimate of $163.3 million.
In the first quarter, Compute and Communications revenues increased to $106.6 million from $57.4 million, driven by continued momentum in data center AI applications. Revenues from Industrial and Embedded increased to $64.3 million from $62.8 million in the prior-year quarter.
Region-wise, in the first quarter of 2026, the company generated 78% of revenues from Asia, while the Americas, along with Europe and Africa, contributed 11% each.
Other Details
Non-GAAP gross profit aggregated $119.6 million compared with $82.9 million in the year-ago quarter, with respective margins of 70% and 69%. During the quarter, non-GAAP operating expenses increased to $60.8 million from the prior-year figure of $51.4 million, and adjusted EBITDA increased to $67.8 million from $40.1 million in the year-ago quarter, with respective margins of 39.6% and 33.4%.
Cash Flow & Liquidity
In the first quarter, Lattice generated $50.3 million in cash from operations compared with $31.9 million in the year-earlier quarter. As of April 4, 2026, it had $140 million in cash and cash equivalents with $ 34.1 million of long-term operating lease liabilities (net of current portion).
Outlook
For the second quarter of 2026, Lattice expects revenues in the range of $175-$195 million. Non-GAAP gross margin is anticipated to be in the band of 69-71%. Non-GAAP total operating expenses are projected to be in the range of $64-$67 million, and non-GAAP earnings are expected to be in the range of 42-46 cents per share.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates review.
The consensus estimate has shifted 11.65% due to these changes.
VGM Scores
Currently, Lattice has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock was allocated a score of F on the value side, putting it in the lowest quintile for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Lattice has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
Lattice is part of the Zacks Electronics - Semiconductors industry. Over the past month, Qualcomm (QCOM - Free Report) , a stock from the same industry, has gained 29.1%. The company reported its results for the quarter ended March 2026 more than a month ago.
Qualcomm reported revenues of $10.6 billion in the last reported quarter, representing a year-over-year change of -2.2%. EPS of $2.65 for the same period compares with $2.85 a year ago.
For the current quarter, Qualcomm is expected to post earnings of $2.27 per share, indicating a change of -18.1% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Qualcomm has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.