Upside case
Bull case
$124-0.7%
The bull case prices LSCC at 118x on FY1 earnings, assuming continued execution and no meaningful deceleration in the core business.
Analysis OverviewBuyUpdated May 1, 2026
Lattice Semiconductor Corporation (LSCC) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
17
analysts
15 bullish · 1 bearish · 17 covering LSCC
Strong Buy
0
Buy
15
Hold
1
Sell
1
Strong Sell
0
Consensus Target
$107
-14.8% vs today
Scenario Range
— – $124
Model bear to bull value window
Coverage
17
Published analyst ratings
Valuation Context
119.2x
Forward P/E · Market cap $17.2B
LSCC price targets
Three scenarios for where LSCC stock could go
Current
~$125
Confidence
38 / 100
Updated
May 1, 2026
Where we are now
Current · $125
Base
$47
Bull
$124
Market caseClosest to today
Base case
$47-62.7%
At 44x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Lattice Semiconductor Corporation
LSCC · NASDAQTechnologySemiconductorsJanuary year-end
Lattice Semiconductor designs and sells low-power, small-form-factor programmable logic devices — primarily field-programmable gate arrays (FPGAs) — for communications, computing, consumer, and industrial applications. It generates revenue through direct sales of its semiconductor chips (roughly 90% of revenue) and licensing of its intellectual property portfolio. The company's competitive moat lies in its specialized focus on low-power FPGAs — a niche where it faces less direct competition from larger players like Xilinx and Intel — and its established design software ecosystem.
Market Cap
$17.2B
Revenue TTM
$574M
Net Income TTM
$20M
Net Margin
3.5%
LSCC Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
25%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+1.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.24/$0.24
Revenue
$124M/$132M
Q4 2025
EPS
$0.28/$0.28
Revenue
$133M/$143M
Q1 2026
EPS
$0.32/$0.32
Revenue
$146M/$143M
Q2 2026
EPS
$0.41/$0.36
Revenue
$171M/$165M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.24/$0.24 | +0.0% | $124M/$132M | -5.9% |
| Q4 2025 | $0.28/$0.28 | +0.0% | $133M/$143M | -6.9% |
| Q1 2026 | $0.32/$0.32 | +0.0% | $146M/$143M | +1.8% |
| Q2 2026 | $0.41/$0.36 | +13.9% | $171M/$165M | +3.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$559M
-2.7% YoY
FY2
$605M
+8.3% YoY
EPS Outlook
FY1
$0.47
+227.4% YoY
FY2
$0.58
+25.1% YoY
Trailing FCF (TTM)$152M
FCF Margin: 26.5%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
LSCC beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
LSCC Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $877M
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
Asia
40.3%
+6.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Asia is the largest reported region at 40.3%, up 6.3% YoY.
LSCC Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Overvalued
Fair value est. $50 — implies -58.7% from today's price.
Premium to Fair Value
58.7%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
LSCC
5613.9x
vs
S&P 500
25.2x
+22152% premium
vs Technology Trailing P/E
LSCC
5613.9x
vs
Technology
27.5x
+20331% premium
vs LSCC 5Y Avg P/E
Today
5613.9x
vs
5Y Average
84.3x
+6556% premium
Forward PE
119.2x
S&P 500
19.1x
+525%
Technology
21.7x
+449%
5Y Avg
—
—
Trailing PE
5613.9x
S&P 500
25.2x
+22152%
Technology
27.5x
+20331%
5Y Avg
84.3x
+6556%
PEG Ratio
—
S&P 500
1.75x
—
Technology
1.47x
—
5Y Avg
—
—
EV/EBITDA
296.9x
S&P 500
15.3x
+1846%
Technology
17.4x
+1609%
5Y Avg
65.4x
+354%
Price/FCF
129.4x
S&P 500
21.3x
+506%
Technology
19.8x
+554%
5Y Avg
60.5x
+114%
Price/Sales
32.8x
S&P 500
3.1x
+946%
Technology
2.4x
+1258%
5Y Avg
17.0x
+93%
Dividend Yield
—
S&P 500
1.88%
—
Technology
1.18%
—
5Y Avg
—
—
| Metric | LSCC | S&P 500 | Technology | 5Y Avg LSCC |
|---|---|---|---|---|
| Forward PE | 119.2x | 19.1x+525% | 21.7x+449% | — |
| Trailing PE | 5613.9x | 25.2x+22152% | 27.5x+20331% | 84.3x+6556% |
| PEG Ratio | — | 1.75x | 1.47x | — |
| EV/EBITDA | 296.9x | 15.3x+1846% | 17.4x+1609% | 65.4x+354% |
| Price/FCF | 129.4x | 21.3x+506% | 19.8x+554% | 60.5x+114% |
| Price/Sales | 32.8x | 3.1x+946% | 2.4x+1258% | 17.0x+93% |
| Dividend Yield | — | 1.88% | 1.18% | — |
LSCC trades above S&P 500 benchmarks on 5 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolLSCC Financial Health
Verdict
Adequate
LSCC generates $152M in free cash flow at a 26.5% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$574M
Revenue Growth
TTM vs prior year
+17.4%
Gross Margin
Gross profit as a share of revenue
66.9%
Operating Margin
Operating income divided by revenue
5.5%
Net Margin
Net income divided by revenue
3.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.14
Free Cash Flow (TTM)
Cash generation after capex
$152M
FCF Margin
FCF as share of revenue — the primary cash quality signal
26.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
1.8%
ROA
Return on assets, trailing twelve months
2.3%
Cash & Equivalents
Liquid assets on the balance sheet
$134M
Net Cash
Cash exceeds total debt — no net leverage
$56M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
2.8%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.6%
Dividend
—
Buyback
0.6%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$100M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
137M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageLSCC Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Cyclical Industry Risks
LSCC operates in the cyclical semiconductor industry, which can lead to significant fluctuations in revenue and gross margin. These cyclical patterns may result in price erosion and weak demand, impacting overall financial performance.
High Risk
Valuation Concerns
The stock is currently trading at a high price-to-sales (P/S) ratio compared to industry averages, indicating that future earnings growth is heavily priced in. This elevated valuation raises the risk of a price correction if growth expectations are not met.
Medium
Economic Conditions
LSCC's business is sensitive to broader economic conditions that can affect customer demand. Factors such as competitive actions, international trade disputes, and global pandemics could adversely impact sales and profitability.
Medium
Production and Supply Chain
Risks related to production, including wafer pricing, packaging material costs, and manufacturing yields, can significantly impact LSCC's profitability. Any disruptions in the supply chain could exacerbate these risks.
Medium
Technology and Innovation
Maintaining a technological edge is crucial for LSCC, but the company faces risks in its R&D investments. Failure to innovate or keep pace with competitors could hinder growth prospects.
Lower
Insider Selling
Recent insider selling trends may indicate a lack of confidence in the company's current valuation. This could affect investor sentiment and potentially lead to stock price volatility.
Lower
Data Center Development
Delays or slowdowns in data center construction, partly due to community protests, could impact LSCC's growth, particularly in relation to AI demand. This risk may hinder the company's ability to capitalize on emerging market opportunities.
Lower
Internal Controls
Potential material weaknesses in internal controls over financial reporting could affect the accuracy and timeliness of LSCC's financial results. This may lead to investor concerns regarding the reliability of reported financial data.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why LSCC Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Edge AI and Physical AI Growth
Lattice Semiconductor's low-power FPGAs are crucial for real-time AI sensor fusion in emerging physical AI systems, particularly in robotics and industrial automation. The company's Holoscan Sensor Bridge plays a key role in this strategy.
Strategic Partnerships
Collaborations, such as the recent one with Texas Instruments, enhance Lattice's ability to provide synchronized, low-latency sensor data pipelines for advanced robotics and industrial edge AI applications. These partnerships position Lattice as a companion chip provider for AI systems.
Strong Revenue Growth and Guidance
Lattice Semiconductor has demonstrated robust growth, with 2026 guidance indicating at least 20% revenue growth. The company reported strong Q4 and full-year 2025 results, showcasing accelerating revenue from new products and applications.
Expanding Margins and Profitability
Lattice is focusing on R&D expansion, supply chain improvements, and a higher mix of software and solutions to enhance earnings and net margins. Disciplined pricing and potential M&A are expected to contribute to sustained profitability.
Market Position and New Products
The company is transitioning to a solutions provider and is experiencing success with newer product families like Avant and Nexus 2. Its FPGAs are strategically positioned between sensors and higher-end compute in automotive and industrial automation, which could deepen design win momentum.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
LSCC Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$125.19
52W Range Position
97%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$43.90
+185.2% from the low
52-Week High
$127.95
-2.2% from the high
1 Month
+28.74%
3 Month
+44.88%
YTD
+59.2%
1 Year
+163.1%
3Y CAGR
+14.0%
5Y CAGR
+20.4%
10Y CAGR
+37.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
LSCC vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
119.2x
vs 65.7x median
+81% above peer median
Revenue Growth
-2.7%
vs -6.2% median
+57% above peer median
Net Margin
3.5%
vs 14.3% median
-76% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
LSC LSCC Lattice Semiconductor Corporation | $17.2B | 119.2x | -2.7% | 3.5% | Buy | -14.8% |
AMA AMAT Applied Materials, Inc. | $339.9B | 38.7x | +8.9% | 24.7% | Buy | -0.5% |
ACL ACLS Axcelis Technologies, Inc. | $5.5B | 46.9x | -6.2% | 14.3% | Buy | -25.1% |
ALG ALGM Allegro MicroSystems, Inc. | $9.5B | 96.7x | -10.8% | -1.6% | Buy | -12.7% |
MCH MCHP Microchip Technology Incorporated | $55.7B | 65.7x | -8.5% | -2.2% | Buy | -15.5% |
MPW MPWR Monolithic Power Systems, Inc. | $81.2B | 76.7x | +22.7% | 22.1% | Buy | -2.3% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
LSCC Dividend and Capital Return
LSCC returns 0.6% annually — null% through dividends and 0.6% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.6%
Dividend + buyback return per year
Buyback Yield
0.6%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$100M
Estimated Shares Retired
798.8K
Approx. Share Reduction
0.6%
Shares Outstanding
Current diluted share count from the screening snapshot
137M
At 0.6%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsLSCC Investor Questions
Common questions answered from live analyst data and company financials.
01Is Lattice Semiconductor Corporation (LSCC) stock a buy or sell in 2026?
Lattice Semiconductor Corporation (LSCC) is rated Buy by Wall Street analysts as of 2026. Of 17 analysts covering the stock, 15 rate it Buy or Strong Buy, 1 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $107, implying -14.8% from the current price of $125.
02What is the LSCC stock price target for 2026?
The Wall Street consensus price target for LSCC is $107 based on 17 analyst estimates. The high-end target is $130 (+3.8% from today), and the low-end target is $80 (-36.1%). The base case model target is $47.
03Is Lattice Semiconductor Corporation (LSCC) stock overvalued in 2026?
LSCC trades at 119.2x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals significantly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Lattice Semiconductor Corporation (LSCC) stock in 2026?
The primary risks for LSCC in 2026 are: (1) Cyclical Industry Risks — LSCC operates in the cyclical semiconductor industry, which can lead to significant fluctuations in revenue and gross margin. (2) Valuation Concerns — The stock is currently trading at a high price-to-sales (P/S) ratio compared to industry averages, indicating that future earnings growth is heavily priced in. (3) Economic Conditions — LSCC's business is sensitive to broader economic conditions that can affect customer demand. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Lattice Semiconductor Corporation's revenue and earnings forecast?
Analyst consensus estimates LSCC will report consensus revenue of $559M (-2.7% year-over-year) and EPS of $0.47 (+227.4% year-over-year) for the upcoming fiscal year. The following year, analysts project $605M in revenue.
06When does Lattice Semiconductor Corporation (LSCC) report its next earnings?
A confirmed upcoming earnings date for LSCC is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Lattice Semiconductor Corporation generate?
Lattice Semiconductor Corporation (LSCC) generated $152M in free cash flow over the trailing twelve months — a free cash flow margin of 26.5%. LSCC returns capital to shareholders through and share repurchases ($100M TTM).