- Lattice Semiconductor Corp (NASDAQ:LSCC) reported second-quarter revenue grew 28% year-over-year to $162.37 million, beating the consensus of $158.02 million.
- Growth was driven by strategic segments of communications and computing and industrial and automotive.
- Adjusted EPS was $0.42, beating the consensus of $0.40.
- The gross margin expanded 720 bps to 68.5%. The adjusted gross margin was 69.1%, up 700 bps.
- Adjusted operating income increased 67.9% Y/Y to $61.55 million, and the margin expanded by 903 bps to 38.1%.
- Lattice moved up to the large-cap to Russell 1000® Index from the Russell 2000® Index.
- LSCC’s net cash provided by operating activities year-to-date was $92.92 million, compared to $70.70 million a year ago. It held cash and cash equivalents of $117.88 million as of July 2, 2022.
- Related: Lattice Semiconductor and Monolithic Power Systems Ahead Of Q2 Earnings – What This Analyst Expects
- 3Q22 Outlook: Lattice expects revenue of $161 million and $171 million vs. a consensus of $161.42 million, an adjusted gross margin of 69% plus or minus 1%.
- It sees adjusted operating expenses of 50 million and $52 million.
- Price Action: LSCC shares are trading higher by 2.85% at $63.79 during the post-market session on Monday.
Wells Fargo Upgrades Stitch Fix to Equal-Weight, Announces $4 Price Target
Wells Fargo analyst Ike Boruchow upgrades Stitch Fix (NASDAQ:SFIX) from Underweight to Equal-Weight and announces $4 price target.
