Key Highlights

  • Shares rose 12.59%, or USD 12.02, to USD 107.45 in regular trading on November 3, 2026.
  • Third-quarter 2026 Revenue was USD 291.0 million, up 118% year over year and about 45% from the prior quarter.
  • Non-GAAP gross Margin was 70.9% and non-GAAP Earnings Per Share were USD 0.72.
  • Free Cash Flow was USD 77.6 million, and USD 50 million of Debt was repaid.
  • Fourth-quarter revenue is guided to USD 325 million to USD 345 million.

What Moved the Stock Today (up USD 12.02, 12.59%)

Lattice Semiconductor Corporation (NASDAQ:LSCC) was up 12.59% to USD 107.45 in regular trading on November 3, 2026, a gain of USD 12.02 from the November 2, 2026 close, which implies a prior close near USD 95.43 (calculated). The screen showed Volume of 3.37M shares and a Market Capitalisation of about USD 15.26 billion.

The catalyst was the company's third-quarter 2026 report and earnings call, which showed revenue more than doubling and a fourth-quarter outlook well above the third-quarter level. The gain is larger than the pre-market move seen earlier in the day, so buyers kept pressing after the open.

The Quarter in Detail

Revenue reached USD 291.0 million, up 118% from a year earlier, with FPGA revenue of USD 252 million, up 90%. Compute and communications revenue was USD 171.9 million, up 132%, and industrial and embedded revenue was USD 80.0 million, up 35%.

Non-GAAP gross margin was 70.9%, compared with 69.5% a year earlier. Non-GAAP Operating Margin was 41.1%, up 280 basis points from the prior quarter, and EBITDA margin was 45.0%. Non-GAAP Operating Expense was USD 86.7 million, up about 29% from the prior quarter, and non-GAAP earnings per share were USD 0.72.

Guidance and Outlook

Lattice designs low-power programmable chips called field programmable gate arrays, used in communications, computing, industrial and automotive systems. For the fourth quarter, management guided to revenue of USD 325 million to USD 345 million, non-GAAP gross margin of 72% plus or minus 1%, operating expense of USD 95 million to USD 101 million, and earnings per share of USD 0.82 to USD 0.86.

For 2026, the company expects revenue near USD 1 billion, FPGA revenue above USD 900 million and earnings per share near USD 2.50. It also pointed to 2027 revenue growth of at least 60% and a five-year revenue growth rate above 30% a year.

Acquisition, Cash Flow and Risks

The acquired AMI Business contributed USD 39.1 million in the two months after the deal closed on July 27, 2026. Operating Cash Flow was USD 95 million compared with USD 88.3 million in the second quarter, Capital Expenditure was USD 17.4 million, and free cash flow was USD 77.6 million, a 26.7% margin.

The company repaid USD 50 million of debt and targets net Leverage below 2 times EBITDA by the end of 2026, with faster paydown in 2027. Cash and total debt balances were not stated on the call, so they are omitted here.

Risks include Demand tied to artificial intelligence infrastructure, integration of the acquired business, and the high growth now embedded in guidance. Reported GAAP earnings per share were far lower than the non-GAAP figure, at USD 0.08 according to a published summary of the results.

What to Watch Next

Readers may follow how fourth-quarter revenue compares with the USD 325 million to USD 345 million range and whether gross margin reaches the guided 72%. Debt repayment progress, AMI integration and customer ramps of new products are other items to track.