- Oops!Something went wrong.Please try again later.
Lattice Semiconductor (LSCC) shares soared 13.2% in the last trading session to close at $57.92. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.1% gain over the past four weeks.
Lattice Semiconductor extended its rally as the company is expected to join the S&P MidCap 400 index.
Price and Consensus
This chipmaker is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +26.7%. Revenues are expected to be $110.28 million, up 13.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Lattice, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LSCC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Zacks Investment Research