Lattice Semiconductor Cuts Jobs as Profit and Sales Slump [Yahoo! Finance]
Lattice Semiconductor Corporation (LSCC)
Last lattice semiconductor corporation earnings: 4/28 04:00 pm
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Source: Yahoo! Finance
CEO Ford Tamer said the company continues to face "near-term industry headwinds." Lattice Semiconductor ( LSCC ) shares slid in early trading Tuesday after the company missed profit estimates and said it would slash jobs to cut costs. The maker of industrial and automotive chips reported third-quarter earnings per share (EPS) of 5 cents, down from 39 cents a year ago and below analysts' estimates compiled by Visible Alpha. Revenue sank 33.9% to $127.1 million, roughly in line with forecasts. Lattice said the results were impacted by a one-time charge of $6.5 million related to moves meant to drive down spending. Those actions will lead to a 14% reduction in its workforce, or about 160 positions, and a 14% decline in non-headcount operating expenses, the company said. Lattice said it expects lowering its operating costs “will help drive annual earnings expansion in the low double-digit range in 2025.” CEO Ford Tamer said the company does not expect additional cuts will be ne
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News
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- Intel Shortlists Suitors for Programmable Chip Arm Altera [Yahoo! Finance]Yahoo! Finance
- Cyclical Pressures Affected Lattice Semiconductor Corp (LSCC) in Q3 [Yahoo! Finance]Yahoo! Finance
- Lattice Semiconductor Co. (NASDAQ: LSCC) had its price target raised by analysts at Stifel Nicolaus from $55.00 to $65.00. They now have a "buy" rating on the stock.MarketBeat
- Lattice Semiconductor Co. (NASDAQ: LSCC) had its "buy" rating re-affirmed by analysts at Rosenblatt Securities. They now have a $85.00 price target on the stock.MarketBeat
LSCC
Earnings
- 11/4/24 - Beat
LSCC
Sec Filings
- 12/19/24 - Form 4
- 12/19/24 - Form 4
- 12/19/24 - Form 4
- LSCC's page on the SEC website