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Investing.com -- Lattice (OTC:LTTC) Semiconductor Corporation (NASDAQ:LSCC) reported second quarter earnings that met Wall Street expectations, but shares slipped 1.7% as investors appeared to seek more robust results from the low power programmable chip maker.
The company reported second quarter adjusted earnings per share of $0.24, matching analyst estimates, while revenue came in at $124 million, slightly above the consensus estimate of $123.67 million but essentially flat compared to the $124.08 million reported in the same quarter last year.
For the third quarter, Lattice provided revenue guidance of $128-138 million, with the midpoint of $133 million slightly above analyst expectations of $131.7 million. The company also forecast adjusted earnings of $0.26-$0.30 per share, with the midpoint aligning with the consensus estimate of $0.27.
"We delivered another strong quarter, with broad-based growth across key financial metrics and record design wins," said Ford Tamer, Chief Executive Officer. "Communications and computing markets remain solid, with normalized channel inventory and continued strength expected into 2026."
Lattice reported a non-GAAP gross margin of 69.3% for the quarter, up from 69.0% in both the previous quarter and the same period last year. The company’s adjusted EBITDA margin improved to 34.1%, up from 32.3% YoY.
The company highlighted progress in industrial and automotive markets, noting they "are recovering as anticipated, with channel inventory levels showing signs of further improvement." Lattice also pointed to growth opportunities in AI applications, including cloud datacenter, wired communications, industrial robotics, and advanced driver-assistance systems.
During the first half of 2025, Lattice repurchased $71 million worth of common stock, equivalent to 100% of its operating cash flow for the period. The company’s free cash flow margin expanded significantly to 25.2% from 11.9% in the year-ago quarter.
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