In a recent transaction, Glenn O'Rourke, SVP of Manufacturing Operations at Lattice (OTC:LTTC) Semiconductor Corp (NASDAQ:LSCC), sold a total of 1,241 shares of the company's common stock, resulting in proceeds exceeding $92,000. The sales took place on May 22, 2024, with the prices of the shares ranging from $73.89 to $75.20.
The first batch of 863 shares was sold at an average price of $74.29 per share, while the second batch of 378 shares was sold at an average price of $75.10 per share. These weighted average sale prices were calculated from multiple trades executed within ranges of $73.89 to $74.80 for the first batch, and $74.93 to $75.20 for the second batch, as noted in the footnotes of the filing.
Following these transactions, O'Rourke's direct holdings in Lattice Semiconductor have been reduced to zero, indicating a complete disposal of his available common stock in the company as of the reported date. The sales come at a time when the semiconductor industry continues to navigate through a dynamic market environment.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on their company's current valuation and future prospects. However, such transactions are not necessarily indicative of future price movements and can be influenced by a variety of factors, including personal financial requirements or portfolio diversification strategies.
Lattice Semiconductor, headquartered in Hillsboro, Oregon, specializes in semiconductors and related devices. The company is incorporated in Delaware and has established itself as a key player in the semiconductor sector.
Details of the transactions were made public through a Form 4 filing with the Securities and Exchange Commission, which documents the sale of non-derivative securities by company insiders.
InvestingPro Insights
Amid the insider transactions at Lattice Semiconductor Corp (NASDAQ:LSCC), investors are keenly observing the company's financial health and market performance. Recent data from InvestingPro shows that Lattice Semiconductor is trading at a high earnings multiple, with a P/E ratio of 47.76, reflecting a premium valuation in the market. This is slightly down from the last twelve months as of Q1 2024, where the adjusted P/E ratio stood at 47.25. Such a valuation suggests that investors are expecting high earnings growth, although analysts have revised their earnings downwards for the upcoming period, according to InvestingPro Tips.
Additionally, the company's revenue has experienced a slight decline of 0.07% over the last twelve months as of Q1 2024. This contraction is more pronounced on a quarterly basis, with a revenue decline of 23.6% in Q1 2024. Despite this, Lattice Semiconductor has maintained a robust gross profit margin of 69.53%, underscoring the efficiency of its operations. The company also boasts a strong return on assets of 27.53%, indicating effective use of its assets to generate profits.
For those looking to delve deeper into Lattice Semiconductor's performance and financial metrics, InvestingPro offers additional insights. There are currently 19 more InvestingPro Tips available, which could provide valuable context to the company's future outlook and investment potential. Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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