Mark Jon Nelson, Senior Vice President of Sales at Lattice (OTC:LTTC) Semiconductor Corp. (NASDAQ:LSCC), recently sold 1,850 shares of the company's common stock. The transaction, executed on December 6, 2024, was conducted under a pre-established 10b5-1 trading plan. The shares were sold at a weighted average price of $57.9243, with individual transaction prices ranging from $57.37 to $58.78. Following the sale, Nelson holds 14,279 shares of Lattice Semiconductor. The stock, currently trading at $62.24, sits well below its 52-week high of $85.69, though InvestingPro analysis indicates it's trading above its Fair Value. With a market capitalization of $8.6 billion and a P/E ratio of 59.3, LSCC maintains strong financial health with a current ratio of 3.98 and minimal debt. For deeper insights into insider transactions and comprehensive analysis, including 16 additional ProTips, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Lattice Semiconductor has authorized an additional $100 million for its common stock repurchase program, extending through December 2025. This decision follows the company's third-quarter earnings per share (EPS) of $0.24 and revenue of $127.1 million, a 34% decrease from the previous year due to inventory normalization. The company's fourth-quarter guidance was set lower due to ongoing challenges in the industrial sector, leading to several analyst firms, including KeyBanc Capital Markets, TD Cowen, CFRA, Needham, and Baird, adjusting their price targets for Lattice Semiconductor.
As part of its strategic response, Lattice Semiconductor has initiated a significant reduction in workforce and operating expenses, aiming to streamline operations. The company's management anticipates the industrial correction and inventory reduction to continue through the first half of 2025, followed by a U-shaped recovery. Despite the near-term headwinds and the consequent adjustments to estimates and price targets, several analyst firms expressed a long-term positive outlook for Lattice Semiconductor. They highlighted the potential for revenue and earnings per share growth driven by market share gains and total addressable market expansion, particularly through the company's Avant product line. These are among the recent developments for the company.
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