These Analysts Slash Their Forecasts On Lattice Semiconductor After Downbeat Earnings

Core Viewpoint - Lattice Semiconductor reported disappointing second-quarter financial results and provided weak guidance for third-quarter revenue, leading to a decline in share price [4][5]. Financial Performance - Lattice Semiconductor reported quarterly earnings of 23 cents per share, missing the analyst consensus estimate of 24 cents per share [2]. - Quarterly sales were $124.076 million, which also fell short of the analyst consensus estimate of$130.172 million [2]. - The company expects third-quarter revenue to be between $117 million and$137 million, with a gross margin of 69%, plus or minus 1% [1]. Market Reaction - Following the announcement of the financial results and guidance, Lattice Semiconductor shares fell by 8.1%, trading at $50.50 [5]. Industry Context - The second-quarter results reflect the impact of cyclic industry headwinds, with ongoing inventory normalization observed in the industry [6]. - Despite current challenges, there are signs of improvement, and the company is focused on product portfolio expansion for long-term growth [6].