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Lattice Semiconductor Corp

LSCC

Semiconductors & Related Devices

Mkt Cap

$10.3B

PE

39.77

Debt

$0

Cash

$128.3M

EV

$10.17B

FCF

$249.5M

Market Cap

$10.3B

P/E Ratio

39.77

Debt

$0

Cash

$128.3M

EV

$10.17B

FCF

$249.5M
Charts data: {"Earnings":[{"time":"2015-01-02","value":48580000},{"time":"2016-01-01","value":-159485000},{"time":"2016-12-30","value":-54099000},{"time":"2017-12-29","value":-70562000},{"time":"2018-12-28","value":-26322000},{"time":"2019-12-27","value":43493000},{"time":"2021-01-01","value":47392000},{"time":"2021-12-31","value":95922000},{"time":"2022-12-30","value":178882000},{"time":"2023-12-29","value":259061000}],"Sales":[{"time":"2015-01-02","value":366127000},{"time":"2016-01-01","value":405966000},{"time":"2016-12-30","value":427054000},{"time":"2017-12-29","value":385961000},{"time":"2018-12-28","value":398799000},{"time":"2019-12-27","value":404093000},{"time":"2021-01-01","value":408120000},{"time":"2021-12-31","value":515327000},{"time":"2022-12-30","value":660356000},{"time":"2023-12-29","value":737154000}],"Net Margins":[{"time":"2015-01-02","value":0.13268619905114892},{"time":"2016-01-01","value":-0.39285309607208485},{"time":"2016-12-30","value":-0.1266795299891817},{"time":"2017-12-29","value":-0.18282158041874697},{"time":"2018-12-28","value":-0.06600317453153093},{"time":"2019-12-27","value":0.10763116411321157},{"time":"2021-01-01","value":0.11612270900715475},{"time":"2021-12-31","value":0.18613812200796775},{"time":"2022-12-30","value":0.270887218409464},{"time":"2023-12-29","value":0.35143402871041873}],"Assets":[{"time":"2015-01-02","value":510530000},{"time":"2016-01-01","value":785920000},{"time":"2016-12-30","value":766883000},{"time":"2017-12-29","value":635961000},{"time":"2018-12-28","value":623687000},{"time":"2019-12-27","value":612016000},{"time":"2021-01-01","value":680067000},{"time":"2021-12-31","value":726494000},{"time":"2022-12-30","value":798713000},{"time":"2023-12-29","value":840894000}],"Stockholders Equity":[{"time":"2015-01-02","value":440975000},{"time":"2016-01-01","value":305520000},{"time":"2016-12-30","value":270430000},{"time":"2017-12-29","value":217693000},{"time":"2018-12-28","value":258457000},{"time":"2019-12-27","value":327659000},{"time":"2021-01-01","value":384427000},{"time":"2021-12-31","value":411633000},{"time":"2022-12-30","value":487163000},{"time":"2023-12-29","value":692020000}],"ROE":[{"time":"2015-01-02","value":0.11016497533873802},{"time":"2016-01-01","value":-0.5220116522649908},{"time":"2016-12-30","value":-0.20004807158969048},{"time":"2017-12-29","value":-0.3241353649405355},{"time":"2018-12-28","value":-0.10184285974069188},{"time":"2019-12-27","value":0.13273860934691248},{"time":"2021-01-01","value":0.12327958233942986},{"time":"2021-12-31","value":0.23302796423027308},{"time":"2022-12-30","value":0.36719126863082785},{"time":"2023-12-29","value":0.37435478743388917}],"ROA":[{"time":"2015-01-02","value":0.08444753491469649},{"time":"2016-01-01","value":-0.1364413680781759},{"time":"2016-12-30","value":-0.02920393332490093},{"time":"2017-12-29","value":-0.07487880546134118},{"time":"2018-12-28","value":-0.00500250927147752},{"time":"2019-12-27","value":0.09646970013855848},{"time":"2021-01-01","value":0.07700123664286018},{"time":"2021-12-31","value":0.13877058860775174},{"time":"2022-12-30","value":0.2345861404534545},{"time":"2023-12-29","value":0.25550901778345425}]}

Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the Certus and ECP, Mach, iCE40, and CrossLink. It also provides video connectivity application specific standard products. In addition, the company licenses its technology portfolio through standard IP and IP core licensing, patent monetization, and IP services. It sells its products directly to end customers, and indirectly through a network of independent manufacturers' representatives and independent distributors. The company primarily serves original equipment manufacturers in the communications and computing, consumer, and industrial, and automotive markets. Lattice Semiconductor Corporation was incorporated in 1983 and is headquartered in Hillsboro, Oregon.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$249.5M$324.3M$412.6M$513.5M$624.8M$742.8M$862.4M$977.4M$1.081B$1.165B$1.223B$12.23B
DCF$282M$312M$337.6M$357.2M$369.3M$372.9M$367.4M$353.2M$331.1M$302.3M$3.023B
Value$6.408B

In the chart Earnings are multiplied by this value.

Earnings Growth 75%
Earnings Stability 36%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years01-201612-201612-201712-201812-201901-202112-202112-202212-2023TTM
Net Margin-39%-13%-18%-6.6%11%12%19%27%35%35%
ROA-14%-2.9%-7.5%-0.5%9.6%7.7%14%23%26%26%
ROE-52%-20%-32%-10%13%12%23%37%37%37%

What is the average Net Margin?

The average Net Margin over the past 5 years is +16.1%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +7.56%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +13.29%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +5.08%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +18.81%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +9.13%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years01-201612-201612-201712-201812-201901-202112-202112-202212-2023TTM
Debt FCF-8.2413.3811.746.301.562.321.110.600.000.00
Debt Equity1.111.241.381.050.520.480.430.270.000.00
MIN
Graham Stability------100%100%100%100%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.00.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -1.02.

What is the Graham’s Stability?

Graham’s Stability measure stands at 1.00.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201612-201801-202112-2022Trend
Revenue8.1%13%22%12%2.4%
Net Income--76%45%9.2%
Stockholders Equity14%22%22%42%7.2%
FCF39%42%46%16%-2.7%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +13.07%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +2.35%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +9.17%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +21.77%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +7.21%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +42.09%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -2.74%.