NASDAQ-listed Lattice Semiconductor Corporation (LSCC) reported positive earnings for its second quarter. The company reports improved sales across all segments and believes that it has entered a new phase of growth.
During the quarter ending July 3, 2021, Lattice Semiconductor’s revenue grew by 25% year-over-year to $125.9 million. The GAAP net income increased to $0.15 per share, as opposed to $0.08 a year earlier. GAAP Gross Margin grew to 61.3%.
LSCC stock recorded double-digit growth in every business segment. LSCC stock is focused on the production of low-power programmable chips. The company has its own FPGA platform. This platform is used for chips used in a variety of electronics: from household appliances and cars to industrial equipment and communications systems.
At the time of the report’s publication, Lattice Semiconductor Corporation (LSCC) announced that the new Lattice Avant FPGA platform would launch during the second half of 2022. It will double the target market for the company.
Additionally, the company unveiled a new Lattice Automate solution for robots and motor control systems. LSCC has introduced a number of other solutions and is regarded as a trustworthy provider of basic cybersecurity solutions.
Lattice Semiconductor Corporation (LSCC) expects to generate revenues between $124 million and $132 million in the third quarter and a gross margin of 62%.
Lattice Semiconductor Corporation (LSCC) stock closed Wednesday’s session at $58.03.LSCC has a current market of $7.70 billion and its outstanding shares stood at 136.40 million.
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