NEW YORK (TheStreet) -- Lattice Semiconductor (LSCC) shares are up 5.4% to $8.55 in trading on Friday following the release of the company's first quarter earnings results.
The company increased year over year quarterly revenue 35.7% to $96.6 million, beating analysts estimates of $91.3 million.
Net income for the quarter was $12 million, or 10 cents per diluted share, beating analysts estimates by 3 cents.
TheStreet Ratings team rates LATTICE SEMICONDUCTOR CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate LATTICE SEMICONDUCTOR CORP (LSCC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth greatly exceeded the industry average of 1.5%. Since the same quarter one year prior, revenues rose by 35.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
- LSCC has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 4.54, which clearly demonstrates the ability to cover short-term cash needs.
- Powered by its strong earnings growth of 200.00% and other important driving factors, this stock has surged by 47.13% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, LSCC should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- LATTICE SEMICONDUCTOR CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, LATTICE SEMICONDUCTOR CORP turned its bottom line around by earning $0.20 versus -$0.26 in the prior year. This year, the market expects an improvement in earnings ($0.28 versus $0.20).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 191.2% when compared to the same quarter one year prior, rising from -$7.18 million to $6.55 million.
- You can view the full analysis from the report here: LSCC Ratings Report