Lattice Semiconductor is growing revenue at 42% year-over-year with a Rule of 40 score of 63 and free cash flow converting at 595% of net income, but the stock trades at a forward P/E of 64.5 times with the price already above the near-term resistance target and a negative risk/reward ratio — the business quality is genuine but current prices do not offer a sound entry.
Thesis pillars
- Exceptional Revenue Growth→Stable
- Dual Customer Geographic Concentration↑Improving
- Elite Cash Generation Quality↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 13, 2026· older than 90 days
Lattice Semiconductor Corporati (LSCC) Stock Analysis
Range Bound setup
Technology · Semiconductors
Sell if holding. Multiple concerning factors at $107.25: Concentration risk — Geographic: foreign sales (83.0%); Concentration risk — Customer: distributors (84.0%).
Lattice Semiconductor Corporation develops and sells small and mid-range FPGAs across Communications/Computing, Industrial/Automotive, and Consumer markets globally, operating as a fabless company using TSMC, Samsung, UMC, and Seiko Epson as foundry partners. Revenue comes from... Read more
Sell if holding. Multiple concerning factors at $107.25: Concentration risk — Geographic: foreign sales (83.0%); Concentration risk — Customer: distributors (84.0%). Chart setup: RSI 50 mid-range, Bollinger mid-band. Score 6.3/10, moderate confidence.
Passes 7/8 gates (positive momentum, favorable risk/reward ratio, clean insider activity, news events none recent, earnings proximity 95d clear, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About Lattice Semiconductor Corporati
About Lattice Semiconductor Corporati
Lattice Semiconductor Corporation sources silicon wafers from four foundry partners—TSMC (16nm FinFET for the Avant and Nexus 2 platforms), Samsung Semiconductor (28nm FD-SOI for the Nexus platform), United Microelectronics Corporation, and Seiko Epson—with foreign sales representing 83% of revenue in fiscal 2025. Assembly and test are handled primarily by Advanced Semiconductor Engineering, with Amkor Technology as a qualified secondary OSAT. Sales through distributors accounted for 84% of net revenue in fiscal 2025, channeled through one global distributor, regional distributors in Asia, Japan, Europe, and Israel, and four e-commerce distributors.
Lattice earns revenue through FPGA hardware sales across Communications and Computing, Industrial and Automotive, and Consumer end markets, plus IP licensing and design services. Product families range from ultra-low-power small FPGAs (iCE40 UltraPlus, MachXO5-NX) targeting IoT and secure control applications, to mid-range Avant-X devices with 25G SERDES for 5G infrastructure and data centers. The Nexus 2 platform, introduced in 2024, extended the small FPGA portfolio on 28nm FD-SOI. IP licensing revenue includes royalties from HDMI and MHL standard consortia, IP core licenses sold to customers integrating Lattice technology into their own ASICs, and patent monetization. Competition comes from larger FPGA vendors as well as ASIC and microcontroller suppliers serving overlapping applications; certain export controls have already limited Lattice's ability to sell to specific customers in China.
Show full overview
Lattice Semiconductor's outsourced manufacturing model concentrates fabrication across East Asian suppliers: foundries in Japan (Seiko Epson, USJC), Korea (Samsung Semiconductor), and Taiwan (TSMC, UMC), plus Advanced Semiconductor Engineering for primary wafer sort testing in Taiwan and Malaysia. The 10-K identifies escalating geopolitical tensions between China and Taiwan as a specific risk: any military conflict, trade restrictions, or blockade could disrupt foundry and OSAT partners, regional logistics networks, and material availability. In May 2026, Lattice disclosed via Form 8-K an agreement to acquire AMI TopCo, Inc. for $1 billion in cash plus approximately $650 million in Lattice common stock, a transaction that expands capital structure commitments concurrent with this supply-chain exposure.
See also: Technology · Semiconductors
From Lattice Semiconductor Corporati's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated Oct 30, 2026Recent Developments — Lattice Semiconductor Corporati
Latest news
- NEWS Lattice Semiconductor Corp (LSCC) Shares Fall 9.7% -- GF Value S - GuruFocus — GuruFocus Oct 30, 2026 negative
- NEWS Is Board Refresh Altering The Investment Case For Lattice Semiconductor Stock (LSCC)? - Simply Wall St — Simply Wall St Oct 28, 2026 neutral
- NEWS Can Healthy Revenue Growth Benefit Lattice's Q3 Earnings? - TradingView — TradingView Oct 28, 2026 positive
- NEWS Can Healthy Revenue Growth Benefit Lattice's Q3 Earnings? - Yahoo Finance — Yahoo Finance Oct 28, 2026 positive
- NEWS Penguin Solutions, Broadcom, FormFactor, Lattice Semiconductor, and AMD stocks trade up, what you need to know - The Glo — The Globe and Mail Oct 27, 2026 positive
Latest item Oct 30, 2026 · Generated 2026-11-05T11:34:08Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicforeign sales83%10-K Item 1: 'Revenue from foreign sales as a percentage of total revenue was 83% for fiscal 2025, and 82% for both fiscal 2024 and 2023.'
- HIGHCustomerdistributors84%10-K Item 1: 'sales to distributors accounted for approximately 84%, 89%, and 87%, respectively, of our net revenue.'
Material Events(8-K, last 90d)
- 2026-05-04Item 1.01MEDIUMLSCC entered Merger Agreement to acquire AMI TopCo, Inc. for $1 billion cash plus ~$650 million in LSCC common stock (min ~5.2M, max ~6.1M shares), on a cash-free/debt-free basis. Subject to customary closing conditions.SEC filing →
- 2026-03-11Item 5.02MEDIUMTonya Stevens, Chief Accounting Officer, resigned effective March 29, 2026. No disagreement with Company operations, policies, or practices cited. No successor named.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker·1 ceiling hit
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Analyst Consensus
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $107.25: Concentration risk — Geographic: foreign sales (83.0%); Concentration risk — Customer: distributors (84.0%). Chart setup: RSI 50 mid-range, Bollinger mid-band. Prior stop was $99.74. Score 6.3/10, moderate confidence.
Analyst target: $135.88 (+26.7% upside). Prior stop was $99.74. Stop-loss: $99.74.
Concentration risk — Geographic: foreign sales (83.0%); Concentration risk — Customer: distributors (84.0%); Sector modifier (Technology): -0.8.
Lattice Semiconductor Corporati trades at a P/E of 346.0 (forward 24.4). TrendMatrix value score: 4.8/10. Verdict: Sell.
23 analysts rate LSCC, with a consensus score of 4.1/5. 13 analysts publish price targets averaging $156.
What does Lattice Semiconductor Corporati do?Lattice Semiconductor Corporation develops and sells small and mid-range FPGAs across Communications/Computing,...
Lattice Semiconductor Corporation develops and sells small and mid-range FPGAs across Communications/Computing, Industrial/Automotive, and Consumer markets globally, operating as a fabless company using TSMC, Samsung, UMC, and Seiko Epson as foundry partners. Revenue comes from FPGA product sales (84% through distributors in fiscal 2025) and IP licensing and services; foreign sales were 83% of revenue in fiscal 2025.