Lattice Semiconductor Q1 revenue beats estimates on strong demand across all end markets

Overview

• US FPGA chipmaker's fiscal Q1 revenue rose 42% yr/yr, beating analyst expectations

• Adjusted EPS for fiscal Q1 beat analyst expectations, up 86% yr/yr

• Company to acquire AMI for $1.65 bln in cash and stock, aiming to expand secure platform

Outlook

• Lattice expects Q2 2026 revenue between $175 mln and $195 mln

• Company sees Q2 2026 non-GAAP gross margin at 70% plus or minus 1%

• Lattice expects Q2 2026 non-GAAP EPS between $0.42 and $0.46

Result Drivers

• BROAD-BASED DEMAND - Co said increased demand across all end markets drove record Q1 revenue growth

• AI-RELATED SERVER DEMAND - New product revenue growth was led by AI-related server demand, according to co

• OPERATING LEVERAGE - Co said profitability improved as revenue growth translated to bottom-line expansion

Company press release: ID:nBw954kSSa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy"

• Wall Street's median 12-month price target for Lattice Semiconductor Corp is $120.00, about 0.8% below its May 1 closing price of $120.96

• The stock recently traded at 69 times the next 12-month earnings vs. a P/E of 55 three months ago

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