Quality Investor

Lattice Semiconductor Corporation

Rank #155ValueWatchlistCompare with other stocks

LSCC · Nasdaq · Technology

Lattice Semiconductor Corporation (LSCC) — Rank #155 by gross profitability (GP/assets 0.37) · ROE 0.4% · Piotroski F-Score N/A.

As-of 2026-10-30 · CIK 0000855658 · all metrics point-in-time as of the filing date.

About

Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

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It offers field programmable gate arrays (FPGA), which are regular arrays of logic that can be custom-configured by the user through software. The company's products include small FPGA platforms, including Lattice Nexus and Lattice Nexus 2; Lattice Avant, a mid-range FPGA platform; general purpose FPGA, such as Lattice Avant-G, Certus-NX, CertusPro, and Certus-N2; and specialized FPGAs, which includes Lattice Avant-E, Avant-X, SCP, MachXO, iCE, CrossLink,and CrossLinkPlus. It also provides design software that includes Lattice Radiant to deliver tools that enable predictable design convergence; Lattice Propel for creating embedded processor-based designs; develops Lattice Automate for industrial automation and robotics; Lattice mVision forlow power embedded vision; Lattice ORAN for control data security, fronthaul synchronization, and low power hardware acceleration; Lattice sensAI for Edge AI applications; Lattice Sentry for hardware security implementation; and Lattice Drive for automotive system designs and applications. In addition, the company offers Glance, an edge AI application software that allows users to control the AI and computer vision experiences for various edge applications, including client computing, industrial, and automotive applications; and sells video connectivity application specific standard products. Further, it provides standard IP and IP core licensing, patent monetization, and IP services. The company serves communications and computing, industrial and automotive, and consumer markets.

Lattice Semiconductor Corporation was incorporated in 1983 and is headquartered in Hillsboro, Oregon.

Industry
Semiconductors
Sector
Technology
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
January 2

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

1,174

Industry

Semiconductors

Exchange

Nasdaq

10/11

Flags passed

LSCC fails 1 critical flag

Passes 10 of 11 quality flags

  • FAIL
    Operating margin declining

    Operating margin lower than prior year

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Sequential beat (rev + EPS)

No data Balance sheet — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.37
Return on equity
0.4%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.24
Current ratio
3.02×
Net cash
$173.31M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
22.1%

Growth

2/2 pass
Revenue growth
2.7%
Piotroski F-Score
N/A
Share dilution
-0.1%

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Does it make money well?

Warning: Operating margin declining · GP/assets 75th percentile of 21 SIC 3674 peers

Gross profitability (GP / assets)

0.37

Primary signal (Novy-Marx).

75th pctl of 21 SIC 3674 peers

Return on equity

0.4%

Gross margin

68.2%

90th pctl of 21 SIC 3674 peers

Revenue growth (YoY)

2.7%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-7.5%

Revenue CAGR (5Y)

5.1%

Earnings CAGR (3Y)

-74.2%

FCF CAGR (3Y)

-14.9%

Cash Flow Health

Is the cash real?

No warning flags · FCF 4199% above net income

Free cash flow

$132.58M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

4199.0%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

22.1%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $173.31M

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.24

79th pctl of 20 SIC 3674 peers (best = lowest)

Current ratio

3.02×

45th pctl of 21 SIC 3674 peers

Quick ratio

2.02×

Net cash

$173.31M

Cash & equivalents minus total debt.

Piotroski F-Score

N/A

Only 8/9 components determinable.

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

2.0 / 5

Fair
Share count trend(net buybacks)
-0.1%3/5 Good
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory
N/A0/5 Weak

Lifecycle Phase History

20212026
Value
Hypergrowth
Op. Leverage
Decline

Price History

LSCC+73.0% · +11.6% CAGRSPY+82.9% · +12.8% CAGR