Weaker Than Expected Q4 Guidance Dragged Lattice Semiconductor Corporation (LSCC)
TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Lattice Semiconductor Corporation (NASDAQ:LSCC) in the fourth quarter 2023 investor letter. Based in Hillsboro, Oregon, Lattice Semiconductor Corporation (NASDAQ:LSCC) is a semiconductor products developer. On March 28, 2024, Lattice Semiconductor Corporation (NASDAQ:LSCC) stock closed at $78.23 per share. One-month return of Lattice Semiconductor Corporation (NASDAQ:LSCC) was 2.11%, and its shares lost 17.22% of their value over the last 52 weeks. Lattice Semiconductor Corporation (NASDAQ:LSCC) has a market capitalization of $10.76 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Lattice Semiconductor Corporation (NASDAQ:LSCC) in its fourth quarter 2023 investor letter:
"Lattice Semiconductor Corporation (NASDAQ:LSCC) develops semiconductor products such as field programmable gate arrays. Despite reporting in line third quarter results, fourth quarter guidance was weaker than expected. Management highlighted softening demand in the industrial and automotive end markets. We decided to liquidate the position, that fell by -32% for the time held in the quarter."
A row of robotic arms in a factory, assembling semiconductor products.
Lattice Semiconductor Corporation (NASDAQ:LSCC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Lattice Semiconductor Corporation (NASDAQ:LSCC) was held by 24 hedge fund portfolios, down from 25 in the previous quarter, according to our database.
We discussed Lattice Semiconductor Corporation (NASDAQ:LSCC) in another article and shared Artisan Mid Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
