Why Lattice Semiconductor Stock Got Rocked on Tuesday
It's safe to say Lattice Semiconductor (NASDAQ: LSCC) investors did not have a Tuesday they would like to remember. Their stock fell by more than 10% in price that trading session, the cause being an uninspiring quarterly earnings report. That decline was significantly steeper than the 0.8% slide of the bellwether S&P 500 (SNPINDEX: ^GSPC).Lattice's first quarter revenue was just under $120.2 million, which represented a concerning year-over-year drop of almost 15%. On the bottom line, the fall was more pronounced, with non-GAAP (generally accepted accounting principles) adjusted net income sliding nearly 24% to $30.7 million, or $0.22 per share. Image source: Getty Images.Continue reading
It's safe to say Lattice Semiconductor (NASDAQ: LSCC) investors did not have a Tuesday they would like to remember. Their stock fell by more than 10% in price that trading session, the cause being an uninspiring quarterly earnings report. That decline was significantly steeper than the 0.8% slide of the bellwether S&P 500 (SNPINDEX: ^GSPC).
Lattice's first quarter revenue was just under $120.2 million, which represented a concerning year-over-year drop of almost 15%. On the bottom line, the fall was more pronounced, with non-GAAP (generally accepted accounting principles) adjusted net income sliding nearly 24% to $30.7 million, or $0.22 per share.
Image source: Getty Images.
