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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our thesis.
What: Shares of Lattice Semiconductor jumped nearly 15% Friday after the company turned in solid fourth-quarter results.
So what: Quarterly revenue rose 35.9% year over year, to $89.5 million, which translated to net income of $0.06 per share, compared to a net loss of $0.06 per share in the same year-ago period. Meanwhile, analysts were looking for earnings of just $0.04 per share on sales of $81.05 million.
For the current quarter, Lattice expects revenue to be "flat to plus or minus 2% on a sequential basis" -- which results in a range of $87.71 million to $91.29 million. Analysts were modeling first quarter revenue of only $83.25 million.
Now what: As it stands, shares look downright attractive looking forward at a reasonable 20 times analysts' 2014 estimates. Keeping in mind those numbers are likely to be revised upward as Wall Street has time to fully digest today's news, I still think Lattice shares should still be able to reward patient investors going forward.
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The article Why Lattice Semiconductor Shares Popped originally appeared on Fool.com.Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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