Lattice Semiconductor Corporation (LSCC) Bundle
An Overview of Lattice Semiconductor Corporation (LSCC)
General Summary of Lattice Semiconductor Corporation (LSCC)
Lattice Semiconductor Corporation (LSCC) has a rich history dating back to 1983. The company specializes in providing low-power, high-performance programmable logic devices, including field-programmable gate arrays (FPGAs), complex programmable logic devices (CPLDs), and system-on-chip (SoC) solutions. As of 2024, Lattice has expanded its product offerings to include a range of solutions for applications in communications, computing, industrial, automotive, and consumer electronics.
In 2024, Lattice Semiconductor reported total sales of approximately $391.98 million for the first nine months of the fiscal year. The company continues to be recognized for its innovative designs and commitment to delivering high-quality products to its customers worldwide.
Company's Financial Performance in the Latest Financial Reports
In the third quarter of fiscal 2024, Lattice Semiconductor reported revenue of $127.09 million, representing a decrease from $192.17 million in the same period of the previous year. For the first nine months of fiscal 2024, total revenue was $391.98 million, down from $566.56 million for the same period in fiscal 2023.
The gross margin for the third quarter of 2024 was $87.69 million, resulting in a gross margin percentage of 69.0%, compared to 70.0% in the third quarter of 2023. The company's net income for the third quarter was $7.19 million, down from $53.79 million in the prior year, leading to a basic net income per share of $0.05.
Operating expenses totaled $80.16 million for the third quarter of 2024, which included $41.40 million in research and development and $30.99 million in selling, general, and administrative expenses. Additionally, the company has successfully implemented a stock repurchase program, having repurchased 370,309 shares for $17.0 million during the third quarter, with approximately $203 million remaining under the program as of September 28, 2024.
Introduction to Lattice Semiconductor Corporation as a Leader in the Industry
Lattice Semiconductor is recognized as a leader in the programmable logic device industry, focusing on low-power solutions that cater to various market segments including communications, computing, industrial, automotive, and consumer applications. The company’s commitment to innovation and customer satisfaction has positioned it favorably against its competitors.
As of 2024, Lattice continues to expand its market presence, leveraging its advanced technology to meet the growing demands of the semiconductor industry. The company’s strategic focus on research and development ensures that it remains at the forefront of technological advancements and market trends. Investors and stakeholders are encouraged to explore the factors contributing to Lattice Semiconductor's success in this dynamic environment.
| Financial Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Revenue (in millions) | $127.09 | $192.17 | $391.98 | $566.56 |
| Gross Margin (in millions) | $87.69 | $134.56 | $268.65 | $395.72 |
| Net Income (in millions) | $7.19 | $53.79 | $44.62 | $160.36 |
| Basic Net Income per Share | $0.05 | $0.39 | $0.32 | $1.16 |
| Total Operating Expenses (in millions) | $80.16 | $77.64 | $221.98 | $226.60 |
Mission Statement of Lattice Semiconductor Corporation (LSCC)
Mission Statement of Lattice Semiconductor Corporation (LSCC)
Lattice Semiconductor Corporation (LSCC) is committed to delivering innovative solutions that empower customers to create next-generation applications. The mission statement emphasizes the company's dedication to quality and performance in its product offerings, guiding its strategic direction and operational decisions.
Core Component 1: Innovation
The first core component of LSCC's mission statement is innovation. The company aims to lead in the field of semiconductor technology by investing significantly in research and development (R&D). In the first nine months of fiscal 2024, LSCC reported R&D expenses of $120.7 million, which accounted for approximately 30.8% of total revenue. This investment reflects LSCC's commitment to developing cutting-edge solutions that meet the evolving needs of its customers.
Core Component 2: Quality
The second component focuses on quality. LSCC strives to deliver high-quality products that are reliable and efficient. The company's gross margin for the first nine months of fiscal 2024 was 68.5%, reflecting its ability to maintain profitability while adhering to strict quality standards. LSCC's emphasis on quality is further demonstrated by its rigorous testing and validation processes, which ensure that products meet or exceed customer expectations.
Core Component 3: Customer Empowerment
The third core component is customer empowerment. LSCC aims to provide its customers with the tools and support necessary to succeed in their respective markets. For instance, in the third quarter of fiscal 2024, LSCC generated revenue of $127.1 million, with 95% coming from distributor channels, indicating strong partnerships that facilitate customer access to LSCC's innovative solutions. This focus on customer relationships is a cornerstone of LSCC’s mission, reinforcing its role as a trusted partner in the semiconductor industry.
| Financial Metrics | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenue | $127.1 million | $192.2 million | -33.9% |
| Gross Margin | 68.5% | 69.8% | -1.3% |
| R&D Expenses | $41.4 million | $42.0 million | -1.5% |
| Net Income | $7.2 million | $53.8 million | -86.6% |
LSCC's mission statement serves as a guiding principle for the company, ensuring that its focus on innovation, quality, and customer empowerment remains at the forefront of its operations. By aligning its strategic initiatives with these core components, LSCC aims to strengthen its position in the semiconductor market and deliver exceptional value to its stakeholders.
Vision Statement of Lattice Semiconductor Corporation (LSCC)
Vision Statement Overview
The vision statement of Lattice Semiconductor Corporation (LSCC) emphasizes its commitment to providing innovative solutions that enhance connectivity and data processing capabilities across various industries. As of 2024, Lattice aims to be at the forefront of the semiconductor industry, driving advancements through technological innovation and strategic partnerships.
Commitment to Innovation
Lattice Semiconductor's vision reflects a strong focus on innovation, particularly in the field of programmable logic devices. The company has consistently invested in research and development to enhance its product offerings. For the third quarter of fiscal 2024, Lattice reported a research and development expense of approximately $41.4 million, representing about 32.6% of total revenue. This investment underscores the importance of continuous innovation in achieving its vision.
Enhancing Connectivity
As part of its vision, Lattice aims to enhance connectivity across various platforms, including automotive, industrial, and communications sectors. The company’s products are designed to improve the efficiency and performance of data processing. In fiscal 2024, Lattice reported total revenue of $127.1 million for the third quarter, with significant contributions from its connectivity solutions.
Sustainability and Corporate Responsibility
Lattice Semiconductor also includes sustainability as a core component of its vision. The company is committed to reducing its environmental footprint through sustainable practices in manufacturing and product design. This commitment is reflected in their operational strategies, which aim to minimize waste and energy consumption while maximizing efficiency. For example, as of September 28, 2024, the company had a gross margin of 69.0%, indicating operational efficiency and a focus on sustainable growth.
Strategic Partnerships and Collaboration
The vision of Lattice includes a strong emphasis on forming strategic partnerships and collaborations to expand its market reach and technological capabilities. The company has focused on maintaining relationships with key distributors, who accounted for 95% of total revenue in the third quarter of fiscal 2024. This strategic alignment is crucial for achieving its vision of leading the semiconductor market.
Global Market Reach
Lattice Semiconductor’s vision encompasses a global market reach, with an emphasis on serving diverse geographical markets. As of September 28, 2024, the company reported cash and cash equivalents of $124.3 million, with approximately $48.4 million held by foreign subsidiaries. This financial positioning enables Lattice to capitalize on international growth opportunities and enhance its competitive edge.
Financial Performance and Goals
The financial health of Lattice Semiconductor is integral to its vision. For the first nine months of fiscal 2024, the company reported a net income of approximately $44.6 million, reflecting strong operational performance. The ongoing financial strategies and market positioning are designed to support the long-term objectives outlined in its vision statement.
| Financial Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Revenue | $127.1 million | $192.2 million |
| Net Income | $7.2 million | $53.8 million |
| Research and Development Expense | $41.4 million | $42.0 million |
| Gross Margin Percentage | 69.0% | 70.0% |
| Cash and Cash Equivalents | $124.3 million | $128.3 million |
Core Values of Lattice Semiconductor Corporation (LSCC)
Integrity
Integrity is a fundamental value at Lattice Semiconductor Corporation (LSCC), reflecting the company's commitment to ethical practices and transparency in all its operations.
LSCC has demonstrated its commitment to integrity by implementing a comprehensive Code of Conduct that outlines expected behaviors for all employees. This includes regular training sessions to ensure all employees understand ethical standards and the importance of compliance with laws and regulations.
In 2024, LSCC reported that 100% of its employees completed the annual ethics training, reinforcing a culture of integrity throughout the organization.
Innovation
Innovation is crucial for LSCC, as it drives the development of cutting-edge semiconductor solutions that meet evolving market demands.
In 2024, LSCC allocated approximately $120.7 million to research and development (R&D), which accounted for 32.6% of its revenue for the third quarter. This investment reflects the company's commitment to pioneering advancements in programmable logic devices and integrated solutions.
Recent innovations include the launch of the Lattice Nexus platform, which enhances performance and energy efficiency in various applications, from automotive to industrial automation.
Customer Focus
Lattice Semiconductor prioritizes customer focus, ensuring that its products and services meet the needs of its diverse clientele.
In the third quarter of 2024, LSCC reported total revenue of $127.1 million, with 95% of this revenue derived from distributor channels, highlighting the company's strong relationships with its distribution partners.
Furthermore, LSCC has implemented customer feedback mechanisms that have led to the development of tailored solutions, enhancing customer satisfaction and loyalty.
Collaboration
Collaboration is essential for LSCC, fostering teamwork both internally and with external partners to drive success.
In 2024, LSCC participated in several strategic partnerships aimed at enhancing technology development. This includes collaborations with key industry players to integrate AI capabilities into its product lines, thereby expanding market reach and capabilities.
The company reported a 10% increase in joint development projects compared to the previous year, demonstrating the effectiveness of its collaborative approach.
Excellence
Excellence is a core value at LSCC, driving the company to achieve high standards in product quality and operational efficiency.
LSCC's commitment to excellence is reflected in its gross margin percentage, which was 69.0% for the third quarter of 2024. This indicates effective cost management and a strong competitive position in the semiconductor market.
Additionally, the company has implemented continuous improvement programs that have successfully reduced production costs by approximately 8% year-over-year, further exemplifying its dedication to operational excellence.
| Core Value | Initiatives | 2024 Metrics |
|---|---|---|
| Integrity | Code of Conduct, Ethics Training | 100% Employee Training Completion |
| Innovation | R&D Investment | $120.7 million (32.6% of revenue) |
| Customer Focus | Customer Feedback Mechanism | 95% Revenue from Distributors |
| Collaboration | Strategic Partnerships | 10% Increase in Joint Projects |
| Excellence | Continuous Improvement Programs | 69.0% Gross Margin |
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Updated on 16 Nov 2024
Resources:
- Lattice Semiconductor Corporation (LSCC) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Lattice Semiconductor Corporation (LSCC)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Lattice Semiconductor Corporation (LSCC)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.