Lattice (OTC:LTTC) Semiconductor Corp's (NASDAQ:LSCC) President and CEO, James Robert Anderson, has sold a significant portion of his shares in the company, according to recent filings. The transactions, which took place on May 22 and May 23, 2024, resulted in the sale of company stock totaling over $5.6 million.
Anderson executed multiple sales at varying prices. On May 22, he sold 12,249 shares at an average price of $74.62, with individual prices ranging from $73.99 to $74.96. The same day, he sold another batch of 17,008 shares at an average price of $75.43, with prices between $74.99 and $75.97. Additionally, he sold 743 shares at an average of $76.08, in a range from $76.02 to $76.11.
The following day, Anderson continued selling his stock, offloading 12,357 shares at an average price of $75.51, with a price range of $74.84 to $75.83. He also sold 22,784 shares at an average price of $76.16, with sales prices ranging from $75.84 to $76.56. Finally, 8,881 shares were sold at an average of $77.57, ranging from $76.94 to $77.93, and a smaller transaction of 209 shares at an average price of $78.05, with a narrow range of $78.05 to $78.06.
In total, the transactions on May 22 and May 23 amounted to $5,626,979 in sales. All sales were conducted under an approved 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
In addition to the sales, Anderson also acquired 30,000 shares through the exercise of options at a price of $8.24 per share, totaling $247,200. These transactions reflect the CEO's right to buy shares at a predetermined price, which is a common incentive in executive compensation packages.
After these transactions, Anderson's ownership in Lattice Semiconductor has changed significantly, but he still maintains a substantial stake in the company. Investors often monitor insider buying and selling as it can provide insights into executives' confidence in the company's future performance.
InvestingPro Insights
Amidst the recent insider transactions by Lattice Semiconductor Corp's (NASDAQ:LSCC) President and CEO, James Robert Anderson, the company's financial health and market performance provide additional context for investors. According to the latest data from InvestingPro, Lattice Semiconductor Corp is trading at a high earnings multiple, with a Price-to-Earnings (P/E) Ratio of 47.82, and an adjusted P/E ratio of 47.28 for the last twelve months as of Q1 2024. This indicates a premium valuation which, along with a PEG Ratio of 4.34, suggests that investors are expecting higher future growth relative to the company's near-term earnings growth.
Furthermore, Lattice Semiconductor's revenue has shown a slight decline of 0.07% over the last twelve months as of Q1 2024, with a more significant quarterly revenue growth decline of -23.6%. Despite this, the company maintains a strong gross profit margin of 69.53%, underlining its ability to retain earnings after the cost of goods sold is considered. This financial health is also supported by the company's ability to cover its interest payments with its cash flows, an InvestingPro Tip highlighting a key aspect of its solvency.
Investors interested in a deeper analysis will find additional InvestingPro Tips on Lattice Semiconductor, which include insights such as the company's moderate level of debt, the expectation of profitability this year, and the fact that it does not pay dividends to shareholders. For those looking to make an informed investment decision, there are 17 additional InvestingPro Tips available for Lattice Semiconductor at https://www.investing.com/pro/LSCC. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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