Chipmaker Lattice Semiconductor (LSCC) late Tuesday topped Wall Street’s targets for the second quarter. Lattice stock rose on the news, and was one of several semiconductor stocks moving on earnings reports.
Hillsboro, Ore.-based Lattice earned an adjusted 25 cents a share on sales of $125.9 million in the June quarter. Analysts expected earnings of 22 cents a share on sales of $120.3 million, according to FactSet. On a year-over-year basis, Lattice earnings rose 47% while sales climbed 25%.
For the current quarter, Lattice expects sales of $124 million to $132 million. The midpoint of $128 million topped Wall Street’s consensus estimate of $121.4 million.
“Strong revenue growth was driven by double-digit growth in each of our market segments based on the strength of our market-leading portfolio,” Chief Executive Jim Anderson said in a news release. “We are excited to be in a new growth phase, with multiple growth vectors across our end markets.”
Lattice Stock Inches Higher
In after-hours trading on the stock market today, Lattice stock climbed 0.3%, near 58.30. During the regular session Tuesday, Lattice stock rose 1.8% to 58.12.
Since then, it has zigzagged above and below the 5% buy zone. Lattice stock notched a record high of 58.74 intraday on Monday.
Other Semiconductor Stocks Reporting
On Monday, NXP stock touched a buy point of 214.40 out of a flat base, but it ended the day below that point. It finished the regular session Tuesday at 210.53.
Also Monday, ON Semiconductor hit a buy point of 44.69 out of a 16-week consolidation period. It ended the regular session Tuesday at 45.38.
Top Semiconductor Stocks In Industry Groups
Lattice ranks fifth out of 30 semiconductor stocks in IBD’s fabless chipmaker industry group, according to IBD Stock Checkup. It has an IBD Composite Rating of 96 out of 99. IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating.
NXP ranks No. 14 in the fabless chipmaker group with a Composite Rating of 88.
Meanwhile, ON Semiconductor is No. 1 among 36 semiconductor stocks in IBD’s chip manufacturing industry group. It has a Composite Rating of 98. Microchip is No. 16 in the group; SkyWater is No. 24.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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