Why Lattice Semiconductor (LSCC) Shares Are Ticking Higher Afterhours Today - Lattice Semiconductor (NASDAQ:LSCC)

Lattice Semiconductor Corp LSCC reported second-quarter revenue grew 28% year-over-year to $162.37 million, beating the consensus of $158.02 million.
Growth was driven by strategic segments of communications and computing and industrial and automotive.
Adjusted EPS was $0.42, beating the consensus of $0.40.
The gross margin expanded 720 bps to 68.5%. The adjusted gross margin was 69.1%, up 700 bps.
Adjusted operating income increased 67.9% Y/Y to $61.55 million, and the margin expanded by 903 bps to 38.1%.
Lattice moved up to the large-cap to Russell 1000® Index from the Russell 2000® Index.
LSCC’s net cash provided by operating activities year-to-date was $92.92 million, compared to $70.70 million a year ago. It held cash and cash equivalents of $117.88 million as of July 2, 2022.
Related: Lattice Semiconductor and Monolithic Power Systems Ahead Of Q2 Earnings - What This Analyst Expects
3Q22 Outlook: Lattice expects revenue of $161 million and $171 million vs. a consensus of $161.42 million, an adjusted gross margin of 69% plus or minus 1%.
It sees adjusted operating expenses of 50 million and $52 million.
Price Action: LSCC shares are trading higher by 2.85% at $63.79 during the post-market session on Monday.

Lattice Semiconductor Shares Gain On Exceeding Q2 Street Expectation