Lattice Semiconductor Corp (NASDAQ:LSCC) on Tuesday posted better-than-expected second-quarter results.

The company reported quarterly earnings of 53 cents per share which beat the analyst consensus estimate of 44 cents per share. The company reported quarterly sales of $201.079 million which beat the analyst consensus estimate of $185.451 million.

Lattice Semiconductor said it sees third-quarter adjusted EPS of 54 cents to 58 cents, versus market estimates of 47 cents. The company expects sales of $210.000 million to $230.000 million, versus estimates of $196.987 million.

Ford Tamer, Chief Executive Officer, said, “We delivered an exceptional second quarter, achieving record revenue of $201 million and non-GAAP EPS of $0.53, up 62% and more than 120% year-over-year, respectively. Both metrics exceeded the high end of our guidance. The combination of strong customer demand, accelerating backlog and sustained design win momentum gives us increased confidence in continued market share gains and profitable growth.”

Lattice Semiconductor shares fell 4.4% to $132.00 in pre-market trading.

These analysts made changes to their price targets on Lattice Semiconductor following earnings announcement.

• Jefferies analyst Blayne Curtis maintained the stock with a Buy and raised the price target from $145 to $175.
• Needham analyst N. Quinn Bolton maintained the stock with a Buy and raised the price target from $140 to $160.

Considering buying LSCC stock? Here’s what analysts think:

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