Lattice Semiconductor Corporation (NASDAQ: LSCC) saw its stock soar 13.82% on Monday, boosted by the company's announcement of key executive appointments and a better-than-expected outlook for the first quarter of 2025.
The semiconductor designer's surge was driven by two major developments:
1. Lattice appointed Lorenzo Flores as its new Chief Financial Officer, Nicole Singer as Chief People Officer, and promoted Erhaan Shaikh to Senior Vice President of Worldwide Sales. These seasoned industry veterans bring extensive experience in driving strategic growth, bolstering confidence in the company's leadership.
2. Lattice provided a strong revenue guidance for Q1 2025, expecting revenue between $115 million and $125 million, surpassing analysts' consensus estimate of $118.8 million. The company's adjusted earnings per share guidance of $0.20 to $0.24 also exceeded Wall Street's expectations of $0.21.
Despite missing analysts' earnings estimates for Q4 2024, Lattice's CEO Ford Tamer struck an optimistic tone, citing stronger backlog and an improved book-to-bill ratio as positive signs for the business moving forward. The company's focus on reducing operating expenses and achieving record design wins in 2024 further contributed to the positive sentiment.
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