A Business at a Glance
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LATTICE SEMICONDUCTOR CORP
LSCC
$19.8B
Mkt Cap
$128.42
-7.03%
LATTICE SEMICONDUCTOR CORP (LSCC) has a current P/E ratio of 6421.0, compared to its historical median P/E of 31.7. The stock is currently considered Expensive based on its historical valuation range.
LATTICE SEMICONDUCTOR CORP (LSCC) has a 5-year average return on invested capital (ROIC) of 20.8%. This indicates strong capital allocation and a potential competitive advantage.
LATTICE SEMICONDUCTOR CORP (LSCC) has a market capitalization of $19.8B. It is classified as a large-cap stock.
LATTICE SEMICONDUCTOR CORP (LSCC) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.50%.
Based on historical P/E analysis, LATTICE SEMICONDUCTOR CORP (LSCC) appears expensive. The current P/E of 6421.0 is 20182% above its historical median of 31.7. The estimated fair value CAGR (P/E method) is 13.9%.
LATTICE SEMICONDUCTOR CORP (LSCC) operates in the Semiconductors & Related Devices industry, within the Technology sector.
Lattice Semiconductor develops and monetizes differentiated programmable logic semiconductor products, silicon-enabling products, system solutions, design services, and technology licenses, positioning itself as the low-power programmable leader serving the network from Edge to Cloud. The company's field programmable gate array (FPGA) devices enable control, connect, and compute functions across Communications and Computing, Industrial and Automotive, and Consumer end markets, with particular strength in small and mid-range FPGA segments that are growing faster than the overall FPGA market. Lattice's business model centers on a "companion chip strategy" where FPGAs serve as complementary processors alongside primary AI and processing chips in servers, infrastructure, and smart devices, driving sustainable diversified growth across applications including data center AI, 5G infrastructure, industrial robotics, autonomous vehicles, and edge AI. The company's competitive moat derives from its low-power, small form factor designs optimized for I/O expansion and hardware security, combined with long-standing customer relationships and world-class support that enable rapid innovation cycles. Distribution occurs globally through direct sales and channel partners to hyperscale cloud providers, original equipment manufacturers (OEMs), original design manufacturers (ODMs), and enterprise customers, with Communications and Computing representing the fastest-growing segment and increasingly dominant revenue contributor. Lattice's unit economics reflect strong gross margins supported by the value and differentiation of its products, with an asset-light model enhanced by the planned acquisition of AMI, a software-centric firmware provider that will further strengthen the company's system-level capabilities and expand its addressable market.
【Accelerating data center momentum】 Management expects continued strong demand across all end markets driven by hyperscale data center capital expenditure growth, with particular confidence in the durability of Communications and Computing demand and the expanding role of Lattice FPGAs in next-generation AI and infrastructure systems. The company anticipates accelerated design-win momentum in both data center AI and physical AI applications, supported by a strong backlog extending well into 2027 and improved customer visibility that underpins confidence in accelerating revenue growth through 2026 and beyond. Operating leverage is expected to continue as revenue accelerates, with profitability growing faster than revenue and the company tracking toward exceeding a $1 billion annual revenue run rate by the end of 2026 following the planned AMI acquisition. Management is focused on deepening customer engagement, capitalizing on emerging opportunities in small and mid-range FPGAs, and delivering long-term shareholder value through disciplined investments in R&D and strategic capital allocation.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 523M | 523M | 509M | 737M | 660M | 408M |
| Net Income | 3.1M | 3.1M | 61M | 259M | 179M | 47M |
| EPS | $0.02 | $0.02 | $0.44 | $1.85 | $1.27 | $0.34 |
| Free Cash Flow | 133M | 133M | 120M | 249M | 215M | 80M |
| ROIC | 0.4% | 1.2% | 6.0% | 40.4% | 42.8% | 13.7% |
| Gross Margin | 68.2% | 68.2% | 66.8% | 69.8% | 68.5% | 60.1% |
| Debt/Equity | 0.00 | 0.24 | 0.02 | 0.02 | 0.33 | 0.44 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 11M | 11M | 34M | 212M | 187M | 52M |
| Operating Margin | 2.1% | 2.1% | 6.8% | 28.8% | 28.4% | 12.8% |
| ROE | 0.4% | 0.4% | 8.7% | 43.9% | 41.0% | 12.3% |
| Shares Outstanding | 154M | 154M | 139M | 140M | 141M | 139M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 279M | 333M | 366M | 427M | 386M | 399M | 404M | 408M | 660M | 737M | 509M | 523M | 523M |
| Gross Margin | 54.0% | 53.6% | 56.3% | 57.9% | 56.1% | 55.0% | 59.0% | 60.1% | 68.5% | 69.8% | 66.8% | 68.2% | 68.2% |
| R&D | 78M | 81M | 88M | 118M | 103M | 82M | 79M | 89M | 136M | 160M | 159M | 188M | 188M |
| SG&A | 72M | 67M | 74M | 99M | 91M | 91M | 83M | 95M | 122M | 137M | 117M | 154M | 154M |
| EBIT | -9.4M | 27M | 42M | -27M | -48M | -3.1M | 59M | 52M | 187M | 212M | 34M | 11M | 11M |
| Op. Margin | -3.4% | 8.1% | 11.4% | -6.3% | -12.3% | -0.8% | 14.6% | 12.8% | 28.4% | 28.8% | 6.8% | 2.1% | 2.1% |
| Net Income | -30M | 22M | 49M | -54M | -71M | -26M | 43M | 47M | 179M | 259M | 61M | 3.1M | 3.1M |
| Net Margin | -10.6% | 6.7% | 13.3% | -12.7% | -18.3% | -6.6% | 10.8% | 11.6% | 27.1% | 35.1% | 12.0% | 0.6% | 0.6% |
| Non-Recurring | 6.1M | 586K | 10K | 8.7M | 7.3M | 18M | 4.7M | 3.9M | 2.6M | 1.9M | 12M | 3.5M | 3.5M |
| Returns on Capital | |||||||||||||
| ROIC | -3.1% | 13.1% | 22.4% | -10.7% | -12.6% | -0.8% | 14.7% | 13.7% | 42.8% | 40.4% | 6.0% | 1.2% | 0.4% |
| ROE | -7.9% | 6.0% | 11.0% | -15.2% | -27.4% | -10.5% | 14.8% | 12.3% | 41.0% | 43.9% | 8.7% | 0.4% | 0.4% |
| ROA | -6.7% | 5.2% | 9.5% | -8.5% | -10.1% | -4.2% | 7.0% | 7.0% | 24.2% | 31.6% | 7.3% | 0.3% | 0.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 4.3M | 57M | 40M | 42M | 39M | 51M | 124M | 92M | 239M | 270M | 141M | 175M | 175M |
| Free Cash Flow | -9.3M | 44M | 30M | 25M | 26M | 43M | 109M | 80M | 215M | 249M | 120M | 133M | 133M |
| Owner Earnings | -25M | 26M | 5.1M | -36M | -32M | -1.4M | 72M | 35M | 165M | 178M | 64M | 37M | 37M |
| CapEx | 14M | 13M | 10M | 17M | 13M | 8.4M | 16M | 12M | 23M | 20M | 21M | 43M | 43M |
| Maint. CapEx | 22M | 21M | 22M | 62M | 58M | 39M | 33M | 16M | 19M | 22M | 24M | 22M | 22M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.7M | 0 | 0 | 20M | 20M |
| D&A | 22M | 21M | 22M | 62M | 58M | 39M | 33M | 16M | 19M | 22M | 24M | 22M | 22M |
| CapEx/OCF | 317.9% | 22.1% | 25.6% | N/A | 33.4% | 16.3% | 12.6% | 13.2% | 9.8% | 7.5% | 14.9% | 24.3% | 24.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 18M | 6.2M | 13M | 7.0M | 0 | 0 | 0 | 15M | 110M | 80M | 67M | 100M | 100M |
| Buyback Yield | 2.2% | 1.1% | 1.5% | 1.3% | N/A | N/A | N/A | 0.3% | 1.6% | 0.8% | 0.8% | 0.8% | 0.5% |
| Stock-Based Comp | 7.5M | 9.5M | 13M | 16M | 13M | 14M | 19M | 40M | 56M | 70M | 53M | 116M | 116M |
| Debt Repayment | 0 | 0 | 0 | 5.2M | 35M | 44M | 321M | 26M | 179M | 130M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | -255M | 218M | 189M | 133M | 55M | -12M | 14M | -112M | -121M | N/A | -134M |
| Cash & Equiv. | 119M | 114M | 116M | 107M | 107M | 119M | 118M | 182M | 146M | 128M | 136M | 134M | 134M |
| Long-Term Debt | N/A | N/A | 0 | 301M | 300M | 251M | 125M | 158M | 129M | 0 | 0 | N/A | N/A |
| Debt/Equity | 0.16 | 0.16 | 0.00 | 1.24 | 1.23 | 1.00 | 0.53 | 0.44 | 0.33 | 0.02 | 0.02 | 0.24 | 0.00 |
| Interest Coverage | N/A | 176.2 | 242.0 | -1.3 | -2.5 | -0.2 | 5.0 | 14.1 | 45.2 | 71.5 | 129.5 | 42.5 | 42.5 |
| Equity | 358M | 386M | 441M | 270M | 245M | 258M | 328M | 384M | 487M | 692M | 711M | 714M | 714M |
| Total Assets | 415M | 448M | 511M | 767M | 636M | 624M | 612M | 680M | 799M | 841M | 844M | 883M | 883M |
| Total Liabilities | 57M | 62M | 70M | 496M | 418M | 365M | 284M | 296M | 312M | 149M | 133M | 169M | 169M |
| Intangibles | 15M | 12M | 9.5M | 119M | 51M | 21M | 7.0M | 6.3M | 25M | 21M | 4.6M | 4.1M | 4.1M |
| Retained Earnings | -265M | -242M | -194M | -407M | -478M | -477M | -433M | -386M | -111M | 148M | 209M | 212M | 212M |
| Working Capital | 234M | 267M | 338M | 157M | 180M | 215M | 163M | 254M | 252M | 271M | 265M | 246M | 246M |
| Current Assets | 287M | 326M | 398M | 315M | 263M | 284M | 262M | 334M | 379M | 368M | 365M | 364M | 364M |
| Current Liabilities | 53M | 59M | 61M | 158M | 84M | 69M | 100M | 80M | 127M | 97M | 100M | 118M | 118M |
| Per Share Data | |||||||||||||
| EPS | -0.25 | 0.19 | 0.40 | -0.44 | -0.58 | -0.21 | 0.32 | 0.34 | 1.27 | 1.85 | 0.44 | 0.02 | 0.02 |
| Owner EPS | -0.21 | 0.22 | 0.04 | -0.30 | -0.26 | -0.01 | 0.53 | 0.25 | 1.17 | 1.27 | 0.46 | 0.24 | 0.24 |
| Book Value | 3.02 | 3.28 | 3.63 | 2.22 | 2.01 | 2.06 | 2.41 | 2.76 | 3.46 | 4.94 | 5.12 | 4.63 | 4.63 |
| Cash Flow/Share | 0.04 | 0.48 | 0.33 | 0.34 | 0.32 | 0.41 | 0.91 | 0.66 | 1.70 | 1.93 | 1.01 | 1.14 | 0.16 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 118.4M | 117.5M | 121.5M | 121.6M | 121.7M | 125.3M | 135.9M | 139.4M | 140.9M | 140.0M | 138.9M | 154.2M | 154.2M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 24.5 | 17.9 | N/A | N/A | N/A | 23.7 | 118.5 | 39.7 | 40.9 | 142.1 | N/A | N/A |
| P/FCF | N/A | 12.4 | 29.2 | 21.5 | 34.5 | 19.1 | 9.5 | 70.6 | 32.9 | 42.4 | 72.5 | 98.7 | 149.4 |
| EV/EBIT | N/A | N/A | 14.8 | N/A | N/A | N/A | 16.3 | 103.8 | 37.0 | 48.7 | N/A | N/A | N/A |
| Price/Book | 2.3 | 1.4 | 2.0 | 1.9 | 4.1 | 3.2 | 3.1 | 14.6 | 14.6 | 15.3 | 12.2 | 18.3 | 27.7 |
| Price/Sales | 2.6 | 1.6 | 2.4 | 1.6 | 1.9 | 2.0 | 2.2 | 10.0 | 12.5 | 10.8 | 22.1 | 18.2 | 37.8 |
| FCF Yield | -1.1% | 8.0% | 3.4% | 4.8% | 2.9% | 5.2% | 10.6% | 1.4% | 3.0% | 2.4% | 1.4% | 1.0% | 0.7% |
| Market Cap | 811M | 547M | 872M | 518M | 886M | 825M | 1.0B | 5.6B | 7.1B | 10.6B | 8.7B | 13.1B | 19.8B |
| Avg. Price | 6.17 | 4.62 | 7.32 | 5.56 | 6.16 | 6.39 | 6.56 | 29.23 | 58.71 | 57.01 | 80.90 | 61.85 | 128.42 |
| Year-End Price | 6.85 | 4.66 | 7.18 | 4.42 | 7.28 | 6.58 | 7.57 | 40.29 | 50.37 | 75.59 | 62.53 | 84.84 | 128.42 |
LATTICE SEMICONDUCTOR CORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 132.5x vs a median of 33.7x. The company's 5-year average ROIC is 20.8% with a gross margin of 66.7%. Total shareholder yield (buybacks) is 0.5%. At current prices, the estimated annualized return to fair value is +12.6%.
LATTICE SEMICONDUCTOR CORP (LSCC) reported annual revenue of $523 million in its most recent fiscal year, based on SEC EDGAR filings.
LATTICE SEMICONDUCTOR CORP (LSCC) has a net profit margin of 0.6%. This is a modest margin.
LATTICE SEMICONDUCTOR CORP (LSCC) generated $133 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LATTICE SEMICONDUCTOR CORP (LSCC) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
LATTICE SEMICONDUCTOR CORP (LSCC) reported earnings per share (EPS) of $0.02 in its most recent fiscal year.
LATTICE SEMICONDUCTOR CORP (LSCC) has a return on equity (ROE) of 0.4%. This indicates moderate shareholder returns.
LATTICE SEMICONDUCTOR CORP (LSCC) has a 5-year average gross margin of 66.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 14 years of financial data for LATTICE SEMICONDUCTOR CORP (LSCC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LATTICE SEMICONDUCTOR CORP (LSCC) has a book value per share of $4.63, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued strong demand across all end markets driven by hyperscale data center capital expenditure growth, with particular confidence in the durability of Communications and Computing demand and the expanding role of Lattice FPGAs in next-generation AI and infrastructure systems. The company anticipates accelerated design-win momentum in both data center AI and physical AI applications, supported by a strong backlog extending well into 2027 and improved customer visibility that underpins confidence in accelerating revenue growth through 2026 and beyond. Operating leverage is expected to continue as revenue accelerates, with profitability growing faster than revenue and the company tracking toward exceeding a $1 billion annual revenue run rate by the end of 2026 following the planned AMI acquisition. Management is focused on deepening customer engagement, capitalizing on emerging opportunities in small and mid-range FPGAs, and delivering long-term shareholder value through disciplined investments in R&D and strategic capital allocation.
No recent press releases.