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Lattice Semiconductor Corporation

LSCC Technology Semiconductors

Lattice Semiconductor Corporation’s revenue for fiscal 2025 (year ended December 2025) was $523.3 million, up 2.72% from fiscal 2024.

Revenue
+118.3%
EPS
+298.0%
Free cash flow
+124.6%

Quarter to September 2026, against a year earlier

104.67 6.64 +6.77%
Market cap
$13.9B
P/E
310×
Fwd P/E
118×
Dividend yield
—
F-score
7/9
Altman Z
37.10
Beneish M
−3.23
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by regions Fiscal 2025

  • CHINA
  • Americas
  • Europe
  • Other Asia
  • JAPAN

Every year since 2011 →

Insider Decisions last twelve months

Bought, $m 1.00
Sold, $m 19.45
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — 1
Sell 3 — 8 12 — 2 3 — 2 2 — —
Insider Ownership 0.01%

Capital & Financial Ratios $m

Size
Market Cap 13,940.00
Revenue ttm 808.80
Net income ttm 44.74
Free cash flow ttm 199.89
Net debt Q 740.80
Valuation
P/E 310.48 (above 35: high)
Forward P/E 118.00 (above 35: high)
Price / sales 17.28 (above 10: high)
Forward P/S Powerpack
Price / FCF 69.93
Price / book 9.86 (above 6: high)
Financial health
Current ratio Q 1.92 (at or above 1.5: strong)
Debt / equity Q 0.61
Interest coverage Q 2.49
Growth
Revenue growth Q +118.25% (above 0%: growing)
Operating income growth Q +1,662.45% (above 0%: growing)
EPS, this year +139.32% (at or above 15%: strong)
EPS, next year A +74.64% (at or above 15%: strong)
Revenue, next year A +76.03% (at or above 10%: strong)
EPS, past 5 yrs −43.26% (below 0%: weak)
EPS, next 5 yrs A +77.70% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 18.2×, against a ten-year median of 11.5×; over the ten years it ranged from 2.0× in 2016 to 34.9× in 2026.
P/E against its own 10 years 84.96%
10-year low 10-year high
P/S against its own 10 years 81.08%
10-year low 10-year high
P/B against its own 10 years 44.15%
10-year low 10-year high
EV/Sales against its own 10 years 84.86%
10-year low 10-year high
EV/FCF against its own 10 years 71.17%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 128 136 134 128
Receivables 104 81 102 163
Inventory 99 103 89 121
Other — — — —
368 365 364 498
2023 2024 2025 Q'26
Payables 34 37 57 115
ST’ Debt — — — —
Other — — — —
97 100 118 259

Compound Annual Growth %

10y 5y 3y
Sales 2.57% 5.10% (7.46%)
Cash Flow 0.00% 13.81% (9.83%)
Earnings 0.00% (42.10%) (74.17%)
Book Value 8.86% 13.18% 13.59%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.56 Actual 0.72

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.32 0.32 Met by 0.00
Q1 FY26 0.36 0.41 Beat by 0.05
Q2 FY26 0.44 0.53 Beat by 0.09
Q3 FY26 0.56 0.72 Beat by 0.16
Q4 FY26 0.64 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.16 0.14 0.08 — —
’25 0.04 0.02 0.02 (0.06) 0.02
’24 0.11 0.16 0.05 0.12 0.44
’23 0.40 0.36 0.38 0.71 1.85
’22 0.26 0.32 0.33 0.37 1.27
’21 0.13 0.15 0.19 0.20 0.67
’20 0.06 0.08 0.09 0.11 0.34
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 171 201 291 — —
’25 120 124 133 146 523
’24 141 124 127 117 509
’23 184 190 192 171 737
’22 151 161 173 176 660
’21 116 126 132 142 515
’20 97 101 103 107 408
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 50 88 95 — —
’25 32 39 47 58 175
’24 30 22 44 45 141
’23 45 71 82 72 270
’22 43 50 64 82 239
’21 29 41 45 52 168
’20 21 16 32 23 92
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 35 62 66 — —
’25 20 27 30 36 113
’24 22 11 34 35 103
’23 34 64 75 64 236
’22 36 43 57 68 204
’21 25 35 39 47 146
’20 14 11 27 18 71
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 45.5% a year for ten years.

Implied
45.5%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 427 386 399 404 408 515 660 737 509 523 809 +2.3% 921 1,353 1,672 +47.3%
Gross margin, % 57.71 56.11 55.02 59.00 60.11 62.42 68.46 69.82 66.82 68.21 68.62 +10.5 pt
EBT (44) (70) (24) 45 48 98 182 215 36 13 60 n/m
EBT margin, % (10.35) (18.06) (6.01) 11.15 11.87 18.94 27.58 29.15 7.11 2.56 7.36 +12.9 pt
Net income (54) (71) (26) 43 47 96 179 259 61 3 45 n/m
Per share, $
Per share, $ Revenue 3.56 3.15 3.15 3.05 3.02 3.77 4.81 5.35 3.70 3.82 5.74 +0.8%
Earnings (0.45) (0.58) (0.21) 0.33 0.35 0.70 1.30 1.88 0.44 0.02 0.32 n/m
Cash flow 0.35 0.31 0.41 0.94 0.68 1.23 1.74 1.96 1.02 1.28 2.07 +15.6%
Capex (0.20) (0.10) (0.13) (0.19) (0.15) (0.16) (0.25) (0.24) (0.27) (0.45) (0.65) +9.7%
Free cash flow 0.15 0.21 0.28 0.75 0.52 1.07 1.48 1.72 0.75 0.82 1.42 +20.9%
Book value 2.25 1.77 2.04 2.47 2.84 3.01 3.55 5.03 5.17 5.21 10.06 +9.8%
Shares, m 120 123 127 132 135 137 137 138 138 137 138 +1.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 59.81 130.91 108.54 49.32 36.19 128.75 3,679.00 310.48 419.3
P/S 2.06 1.88 2.20 6.27 15.18 20.43 13.33 12.78 15.33 19.28 17.28 10.9
P/B 3.26 3.32 3.39 7.74 16.12 25.58 18.07 13.61 10.99 14.13 9.86 11.6
EV/Sales 2.57 2.37 2.52 6.35 15.15 20.48 13.33 12.64 15.12 19.12 18.22 11.0
EV/FCF 61.19 35.14 28.81 25.91 87.32 72.28 43.18 39.43 74.65 88.71 73.72 55.7
Cash, $m
Cash, $m Operating cash flow 42 39 51 124 92 168 239 270 141 175 291 +17.3%
Capex (24) (13) (17) (25) (21) (22) (35) (33) (38) (62) (91) +11.3%
Free cash flow 18 26 35 99 71 146 204 236 103 113 200 +22.7%
Balance, $m
Balance, $m Working capital 157 180 215 163 254 195 252 271 265 246 239 +5.1%
Net debt 218 189 131 28 (12) 26 (17) (128) (136) (134) 741 n/m
Shareholders’ equity 270 218 258 328 384 412 487 692 711 714 1,417 +11.4%
Returns, %
Returns, % ROA (6.97) (10.06) (4.18) 7.04 7.34 13.64 23.46 31.60 7.26 0.36 2.59 +7.3 pt
ROIC (3.42) (7.31) (0.50) 10.36 8.78 14.39 24.91 23.54 3.75 1.21 2.13 +4.6 pt
ROE (18.79) (28.91) (11.06) 14.84 13.31 24.10 39.80 43.94 8.71 0.43 4.21 +19.2 pt
People
People Employees 986 834 754 747 746 856 949 1,156 1,110 1,174 — +2.0%
Revenue/emp, $m 0.43 0.46 0.53 0.54 0.55 0.60 0.70 0.64 0.46 0.45 — +0.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Lattice Semiconductor develops programmable chips, software and other technology for equipment makers. It is headquartered in Hillsboro, Oregon, and led by President and CEO Ford Tamer.

Its main products are field programmable gate arrays, or FPGAs. Unlike a chip built for one fixed function, an FPGA can be configured by a customer using software. Lattice focuses on small, low-power devices that can control or connect other components, process data and provide hardware security.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
CHINA 273 52.22%
Americas 103 19.64%
Europe 67 12.77%
Other Asia 52 9.91%
JAPAN 29 5.47%
Gross margin 68.21%
Operating margin 2.15%
Pre-tax margin 2.56%

Revenue by segment since 2011

Lattice Semiconductor Corporation vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CRDO Credo Technology Group Holding Ltd. $21.1B 38.8× 34.2× +114.73% (above 0%: growing) +89.19% (above 0%: growing) +61.55% (above 0%: growing) 64.53% 25.20% Compare
GFS GlobalFoundries Inc. $20.0B 28.2× 32.3× +5.81% (above 0%: growing) −26.83% (below 0%: shrinking) −97.40% (below 0%: shrinking) 28.28% 9.74% Compare
SWKS Skyworks Solutions, Inc. $19.1B 70.2× 57.9× −4.95% (below 0%: shrinking) −83.55% (below 0%: shrinking) −151.81% (below 0%: shrinking) 40.87% 2.13% Compare
CBRS Cerebras Systems Inc. $18.3B — (loss-making) — — n/m — 14.19% (264.97%) Compare
TSEM Tower Semiconductor Ltd. $14.9B 42.5× 47.8× +32.98% (above 0%: growing) +120.40% (above 0%: growing) −180.73% (below 0%: shrinking) 33.97% 24.16% Compare
MTSI MACOM Technology Solutions Holdings, Inc. $14.5B 60.5× 57.0× +35.77% (above 0%: growing) +169.39% (above 0%: growing) +165.46% (above 0%: growing) 58.31% 22.53% Compare
LSCC Lattice Semiconductor Corporation $13.9B 310× 118× +118.25% (above 0%: growing) +298.00% (above 0%: growing) +124.58% (above 0%: growing) 67.39% 8.24%
SITM SiTime Corporation $10.7B 366× 108× +257.40% (above 0%: growing) n/m −167.40% (below 0%: shrinking) 51.60% 2.79% Compare
SMTC Semtech Corporation $8.5B 55.9× 33.0× +32.72% (above 0%: growing) n/m +54.57% (above 0%: growing) 53.75% 16.31% Compare
Median of peers $16.6B 55.9× 47.8× +32.98% +89.19% −97.40% 46.24% 13.03%

All 68 Semiconductors stocks →

From the latest earnings call

Updated

  • CEO Fouad Tamer said data center demand and a recovery in industrial markets supported growth, while assembly constraints prompted Lattice to secure additional capacity.
  • Tamer said the AMI acquisition adds firmware and infrastructure-management capabilities, while CFO Lorenzo Flores expects it to add to earnings per share starting in Q4.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Stifel Nov 3, 2026 Target raised Buy 165.00 → 175.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 103.90%
Held by the ten largest 60.76%
Holder Shares Stake Change
T. Rowe Price 21.38m 15.58% −10.95m
BlackRock 17.24m 12.57% +586.25k
Vanguard 14.52m 10.59% −121.68k
Invesco 5.24m 3.82% −966.54k
Franklin Templeton 5.08m 3.70% −346.74k
Capital Group 4.95m 3.61% +612.05k
State Street 4.89m 3.56% +275.59k
Artisan Partners Limited Partnership 3.47m 2.53% +468.33k
Geode Capital Management 3.31m 2.41% +434.84k
Jericho Capital Asset Management L.P. 3.27m 2.38% +3.05m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 18 March 2026

Ownership

Directors and executive officers, together 0.62%
T. Rowe Price Investment Management, Inc. 15.20%
T. Rowe Price Associates, Inc. 13.20%
The Vanguard Group, Inc. 10.10%
BlackRock, Inc. 10.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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LSCC metrics, ten years each

stockrow.com/LSCC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com