Shares of Lattice Semiconductor (LSCC) experienced a slight dip in after-hours trading on Monday, despite the company surpassing Wall Street expectations for the second quarter. While the company’s performance was impressive, its outlook left investors somewhat hesitant.
Financial Performance
Lattice Semiconductor reported a net income of $50.6 million, or 36 cents per share, for the second quarter. This marks an improvement from the $44.5 million, or 32 cents per share, the company earned during the same period last year. Adjusted earnings, which exclude stock-based compensation expenses and other items, came in at 52 cents per share, compared to 42 cents per share in the prior year.
Revenue for the quarter reached $190.1 million, showing significant growth from last year’s $161.4 million during the same period.
Mixed Market Response
Despite the positive quarterly results, Lattice Semiconductor’s shares declined by as much as 4% in after-hours trading, following a 0.1% drop in the regular session. The stock closed at $90.94.
Conservative Outlook
Lattice Semiconductor provided a third-quarter revenue forecast in the range of $187 million to $197 million. While this guidance is in line with market expectations, it contributed to the uncertainty among investors who had anticipated a more robust outlook. Analysts had estimated third-quarter revenue to be around $191.9 million.
Overall, while Lattice Semiconductor delivered strong quarterly results, its conservative outlook for the upcoming quarter left investors cautious. The company’s performance will be closely monitored as it navigates the evolving semiconductor industry.