Lattice (OTC:LTTC) Semiconductor Corp's (NASDAQ:LSCC) Senior Vice President and Chief Financial Officer, Sherri R. Luther, has sold a significant portion of her stock in the company, transactions totaling over $1.18 million. The sales occurred on May 21, 2024, with the prices of the shares ranging between $71.82 and $72.26.
The SEC filing revealed that Luther executed two separate sales. In the first transaction, she sold 10,654 shares at an average price of $71.82, and in the second transaction, she sold 5,811 shares at an average price of $72.26. The total number of shares sold by Luther amounted to 16,465.
The transactions were made under a prearranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of inside information. This plan had been adopted on November 29, 2023.
Following these sales, Luther still retains a substantial amount of Lattice Semiconductor stock, with ownership of 109,116 shares post-transaction. The company, headquartered in Hillsboro, Oregon, is known for its work in the semiconductor and related devices industry.
Investors and stakeholders often keep a close eye on insider transactions as they can provide valuable insights into an insider’s perspective on the company's financial health and future prospects. The details of the transactions, including the number of shares sold at each price point, are available upon request from the Securities and Exchange Commission, Lattice Semiconductor, or its security holders.
InvestingPro Insights
Lattice Semiconductor Corp (NASDAQ:LSCC) has recently been under the spotlight not only due to insider transactions but also because of its financial metrics and market performance. According to InvestingPro data, Lattice Semiconductor has a market capitalization of $10.42 billion, with a high price-to-earnings (P/E) ratio of 48.35. This high P/E ratio, which is slightly adjusted to 47.67 for the last twelve months as of Q1 2024, suggests that investors are expecting high earnings growth compared to the company's current earnings. The company's price to book ratio also stands at a considerable 15.43 for the same period.
Despite a slight revenue decline of 0.07% over the last twelve months as of Q1 2024, the company maintains a strong gross profit margin of 69.53%, indicating effective cost control and a solid business model. The company's operating income margin is also robust at 24.98%. However, it's noteworthy that analysts have revised their earnings downwards for the upcoming period, a signal that may concern potential investors.
InvestingPro Tips highlight that Lattice Semiconductor is trading at a high earnings multiple and a high P/E ratio relative to near-term earnings growth. Additionally, the company does not pay a dividend, which might be a factor for income-focused investors to consider. On the brighter side, the company's liquid assets exceed short-term obligations, and cash flows can sufficiently cover interest payments, reflecting a stable financial position.
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