Welcome to our dedicated page for Lattice Semiconductor news (Ticker: LSCC), a resource for investors and traders seeking the latest updates and insights on Lattice Semiconductor stock.
Lattice Semiconductor Corp (NASDAQ: LSCC) is a global leader in smart connectivity solutions, providing intellectual property and low-power, small form-factor devices that enable over 8,000 global customers to deliver innovative and differentiated products efficiently. Founded in 1983 and headquartered in Portland, Oregon, Lattice Semiconductor has a broad exposure across various markets, including consumer electronics, industrial equipment, communications infrastructure, and licensing.
The company's core business revolves around the development and distribution of semiconductor technology. They offer a range of products, solutions, and licenses through their core Lattice business segment, which includes silicon-based and silicon-enabling products, evaluation boards, development hardware, and related intellectual property licensing, services, and sales.
Notably, in March 2015, Lattice Semiconductor acquired Silicon Image, a leader in setting industry standards such as HDMI®, DVI™, MHL®, and WirelessHD®. This acquisition has bolstered Lattice's position in the market and added significant value to their portfolio.
Lattice's products are globally recognized, with the majority of sales derived from customers in Asia. The company's innovative solutions cater to a diverse range of applications, helping to drive advancements in consumer electronics, industrial automation, and communication technologies.
With a commitment to providing market-leading solutions, Lattice continues to focus on expanding its product offerings and enhancing its technology to meet the evolving needs of its customers. The company's strategic partnerships and recent projects reflect their dedication to innovation and excellence in the semiconductor industry.
Lattice Semiconductor (NASDAQ: LSCC) announced significant expansions to its FPGA portfolio at the Lattice Developers Conference 2024. The company introduced the Lattice Nexus 2 platform for small FPGAs and the Certus-N2 FPGA family, built on 16 nm FinFET technology. The new platform offers up to 3X lower power consumption, 3.2X faster MIPI speed, and 5X smaller size compared to competitive devices.
The company also launched new mid-range options with Avant 30 and Avant 50 devices, alongside updates to their design software tools and application-specific solution stacks. Key features include advanced connectivity with 16G SERDES, PCIe Gen 4 support, and enhanced security with 256-bit AES-GCM and SHA3-512 compliance.
Lattice Semiconductor (Nasdaq: LSCC) has announced a new $100 million stock repurchase program authorized by its Board of Directors, extending through December 2025. The company has already demonstrated its commitment to shareholder value by repurchasing approximately 6 million shares since Q4 2020, reducing dilution by 4.3%.
The program, effective immediately, allows Lattice to purchase shares through open market and private transactions at management's discretion. The repurchase timing and volume will be influenced by market conditions, share price, and regulatory considerations, with transactions conducted in compliance with Rule 10b-18 of the Securities Exchange Act of 1934.
Lattice Semiconductor (NASDAQ: LSCC) has been awarded the 'Most Respected Public Semiconductor Company' title at the 2024 Global Semiconductor Alliance (GSA) Awards in the $500 Million to $1 Billion annual sales category. The award recognizes excellence in vision, innovation, execution, and future opportunity based on GSA member votes.
Ford Tamer, CEO of Lattice, expressed gratitude for the prestigious recognition, crediting the company's team, customers, and partners for this achievement. GSA CEO Jodi Shelton congratulated Lattice and highlighted the company's industry contributions. The GSA Awards are significant within the semiconductor industry, as GSA members represent 70% of the $550B+ semiconductor market.
Lattice Semiconductor (LSCC) reported Q3 2024 revenue of $127.1 million, with GAAP gross margin of 69.0% and diluted EPS of $0.05. Non-GAAP EPS was $0.24. The company announced a 14% workforce reduction and 14% cut in non-headcount operating expenses, including a one-time GAAP charge of $6.5 million. Q4 2024 guidance projects revenue between $112-122 million with non-GAAP gross margin of 68.0% ±1% and non-GAAP EPS of $0.15-0.23. The company highlighted new AI-PC wins with Dell and expansion of its Nexus FPGA portfolio.
Lattice Semiconductor (NASDAQ: LSCC) has announced the complete agenda for its upcoming Lattice Developers Conference, scheduled for December 10-11, 2024. The hybrid event will feature keynote speakers from Dell, Microsoft, SICK, and Teledyne FLIR. The conference will include over 25 keynotes and breakout sessions, 40+ guest speaker presentations, and 75+ technology demonstrations from Lattice and more than 30 FPGA partners. The event will focus on low power FPGA solutions for edge AI, security, and advanced connectivity applications across Industrial, Automotive, Communications, Computing, and Consumer markets.
Lattice Semiconductor (Nasdaq: LSCC) has announced its upcoming third quarter 2024 conference call, scheduled for Monday, Nov. 4, 2024, at 5 p.m. Eastern Time. The call will feature CEO Ford Tamer and Interim CFO Tonya Stevens, who will discuss the company's financial results and business outlook.
Investors and interested parties can participate via phone by dialing 1-877-407-3982 (US) or 1-201-493-6780 (International), using the conference ID 13749552. Additionally, a live webcast of the call will be available on the investor relations section of the Lattice Semiconductor website.
Lattice Semiconductor (NASDAQ: LSCC) announced the immediate resignation of CFO Sherri Luther to pursue a new opportunity. Tonya Stevens, Corporate Vice President and Controller, has been appointed interim CFO. Stevens, with over 30 years of corporate finance experience, including 5 years at Lattice, will facilitate the transition while the Board searches for a new CFO.
CEO Ford Tamer expressed confidence in the Lattice team to drive the next growth phase. The company reaffirmed its guidance provided on July 29, 2024, and will report financial results on Nov. 4, 2024. Lattice aims to build on customer momentum and seize opportunities for its FPGA solutions.
Lattice Semiconductor (NASDAQ: LSCC) announced that its Lattice Sentry™ solution stack has been named the 'Endpoint Security Solution of the Year' in the 2024 CyberSecurity Breakthrough Awards. This recognition highlights Sentry's comprehensive approach to system security, offering developers tools for real-time protection and recovery against evolving cyberthreats.
Eric Sivertson, VP of Security Business at Lattice, emphasized the importance of cybersecurity preparedness and cyber resiliency in infrastructure. The Lattice Sentry solution stack aids developers in creating cyber resilient system control applications that comply with NIST Platform Firmware Resiliency (PFR) Guidelines. It's applicable across various markets including Communications, Computing, Industrial, Automotive, and Consumer.
Lattice solution stacks provide turnkey application-specific solutions, combining reference platforms, designs, demos, IP building blocks, FPGA design tools, and custom design services to accelerate customer application development and time-to-market.
Lattice Semiconductor (NASDAQ: LSCC) announced its participation in the 2024 OCP Global Summit, taking place at the San Jose Convention Center from October 15-17, 2024. The company will showcase its latest FPGA solutions for datacenter challenges in AI, security, control, and networking.
Lattice's demo showcase at Booth #A36 will feature:
- AI-server solutions for signal management and security
- Communication solutions with attestation over LTPI
- Post-Quantum Cryptography (PQC) and Caliptra solutions
- Remote Management solutions with Open BMC and Open BIC
- Center-Secure ORAN solutions
Additionally, Lattice will present engineering workshops on topics such as leveraging FPGAs for Root of Trust functions, Platform Root of Trust architecture, and future-ready green ORAN.
Lattice Semiconductor (NASDAQ: LSCC) has appointed Dr. Ford Tamer as its new CEO and Board member, effective immediately. Tamer replaces Esam Elashmawi, who served as Interim CEO since June 2024 and will continue as Chief Strategy and Marketing Officer. Tamer brings extensive experience in semiconductors, networking, and enterprise software, having previously served as President and CEO of Inphi for over nine years. He holds an M.S. and Ph.D. from MIT and currently serves on the boards of Teradyne and Groq. The company has reaffirmed its guidance provided on July 29, 2024.
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