Tracy Ann Feanny, Senior Vice President and General Counsel at Lattice (OTC:LTTC) Semiconductor Corp (NASDAQ:LSCC), recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. On November 21, Feanny sold a total of 1,474 shares at a price of $50.86 per share, amounting to a total transaction value of $74,967.
Following this transaction, Feanny retains ownership of 13,909 shares in the company. The sale was conducted under a pre-established 10b5-1 trading plan, which was adopted on November 29, 2023.
In other recent news, China's semiconductor industry is ramping up its efforts towards self-sufficiency and strengthening international relationships in anticipation of potential U.S. policy challenges. The industry has seen a significant surge in semiconductor equipment imports, with a notable increase of 33% to $24.12 billion in the first nine months of the year. Firms like Jinan Lujing Semiconductor Co are emphasizing the importance of localizing semiconductor production.
On the other side of the globe, Lattice Semiconductor has been experiencing a series of significant developments. Following third-quarter earnings per share (EPS) of $0.24 and revenue of $127.1 million, the company has seen a series of price target revisions from various analyst firms. KeyBanc Capital Markets, TD Cowen, CFRA, and Needham have all adjusted their outlooks due to ongoing challenges in the industrial sector and weaker than anticipated guidance for future quarters.
Lattice Semiconductor has implemented a 14% reduction in its workforce and operating expenses in response to these challenges. The company anticipates a U-shaped recovery, projecting low single-digit revenue growth in 2025. These recent developments reflect the strategic focus of both industries on navigating complex challenges and maintaining growth and stability.
InvestingPro Insights
While Tracy Ann Feanny's recent stock sale might raise eyebrows, it's crucial to consider Lattice Semiconductor's broader financial picture. According to InvestingPro data, the company boasts a market capitalization of $7.47 billion, reflecting its significant presence in the semiconductor industry. Despite a challenging market environment, Lattice maintains a strong gross profit margin of 68.9% for the last twelve months as of Q3 2024, indicating efficient cost management.
However, investors should note that Lattice's revenue growth has been under pressure, with a 24.23% decline over the same period. This aligns with an InvestingPro Tip suggesting that analysts anticipate a sales decline in the current year. Additionally, the stock has taken a substantial hit over the last six months, with a price total return of -31.69%.
On a positive note, Lattice operates with a moderate level of debt and its liquid assets exceed short-term obligations, as highlighted by InvestingPro Tips. These factors could provide financial flexibility during challenging times. For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for Lattice Semiconductor, providing a deeper understanding of the company's financial health and market position.
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