Lattice Semiconductor (LSCC) Stock Soars Despite Soft Q1 Results
NEW YORK (TheStreet) -- Lattice Semiconductor (LSCC) - Get Report stock is gaining 9.06% to $5.66 on heavy trading volume on Tuesday afternoon even though the manufacturer of programmable logic devices reported a net loss that met estimates and less-than-anticipated revenue growth for the 2016 first quarter.
After Monday's market close, the Portland, OR-based company posted a loss of 1 cent per share, which was in line with Wall Street estimates.
Revenue increased 9% year over year to $96.51 million, missing estimates of $98 million for the quarter ended April 2.
CEO Darin Billerbeck remained positive about revenue growth, explaining that the company expects "the first quarter to represent a low point in revenue for the year, followed by a healthy uptick in the second half of 2016, which puts us firmly on track to outpace expected overall industry growth."
So far today, 3.96 million shares of Lattice Semiconductor have exchanged hands, compared with its average daily volume of 2.59 million shares.
Separately, Lattice Semiconductor has a "sell" rating and a letter grade of D+ at TheStreet Ratings because of the company's deteriorating net income, disappointing return on equity, weak operating cash flow, generally high debt management risk and disappointing stock performance.
You can view the full analysis from the report here: LSCC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
