Investing.com | Editor Pollock Mondal
Published Oct 31, 2023 20:04
Lattice (OTC:LTTC) Semiconductor Corp. (NASDAQ:LSCC) reported robust results for Q3 2023, with an 11% YoY revenue growth and record non-GAAP gross margins of 70.6%. The company, however, anticipates a softening demand in the industrial and automotive sectors, primarily in Asia and Europe, extending into Q4. Despite these predictions, Lattice remains optimistic about the launch of two new Avant mid-range FPGA families in December and the long-term growth potential of the industrial and automotive segment.
Key takeaways from the earnings call:
In the earnings call, Lattice emphasized its focus on disciplined investments and product launches to drive long-term growth. The company is engaged with several client OEMs, including Lenovo, LG, and ASUS, for potential design wins, particularly in Edge AI applications. Lattice plans to share more about these engagements as they enter production. The company also mentioned its gross margin expansion strategy and its target for OpEx to be 30% of sales in the long term. The Avant pipeline is reportedly larger than the Nexus pipeline, which is viewed positively, although the revenue ramp will depend on customers' pace of bringing the product to market. Overall, Lattice Semiconductor expressed satisfaction with their Q3 results and looks forward to expanding their product portfolio.
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Written By: Investing.com
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