Why Lattice Semiconductor Shares Are Seeing Blue Skies Today

Lattice Semiconductor Corporation LSCC shares are trading higher on Monday. The company appointed Ford Tamer as CEO and to its Board of Directors, effective immediately.

Tamer succeeds Esam Elashmawi, who was Interim CEO since June 2024 and will now focus on his role as Chief Strategy and Marketing Officer.

Tamer brings extensive experience from his roles as President and CEO of Inphi, CEO of Telegent Systems, and Senior Vice President and General Manager of Broadcom‘s Infrastructure Networking Group.

Also Read: These Analysts Slash Their Forecasts On Lattice Semiconductor After Downbeat Earnings

Apart from this, the company stated that it is reaffirming its guidance from July 29, 2024.

Lattice expects revenue for the third quarter of 2024 to be between $117 million and $137 million (consensus $127.09 million) and gross margin to be 69%, plus or minus 1%.

In July, Lattice Semiconductor reported quarterly earnings of $0.23 per share and sales of $124.1 million, missing the analyst estimates of $0.24 per share and $130.2 million, respectively.

Investors can gain exposure to the stock via VanEck Fabless Semiconductor ETF SMHX and Global X Internet of Things ETF SNSR.

Price Action: LSCC shares are up 13.1% at $50.67 at the last check Monday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.