Lattice Semiconductor Corporation — Cyborg Score 7/10

Strategic Profile

After AMD completed the acquisition of Xilinx in February 2022, Lattice Semiconductor became the last fully independent major manufacturer of FPGAs. The company's balance sheet reflects strong financial health, with a current ratio of 3.24 and a debt-to-equity ratio of 0.03, indicating a robust liquidity position. Company management is currently guiding for a 37.3% year-on-year increase in sales next quarter, with sell-side analysts expecting revenue to grow 20.9% over the next 12 months.

Cyborg Score Rationale

Lattice beat Wall Street's revenue expectations in Q4 CY2025 with sales up 24.2% year-on-year, and next quarter's revenue guidance was 11.6% above analyst expectations. New product revenue surged by approximately 70% in 2025, with expectations to constitute around 25% of total revenue in 2026. Strong momentum offset by earnings growth showing a decline of 57% over the past year.

Top Insights

• Q4 2025 revenue of $145.8 million beat Wall Street estimates, up 24.2% year-on-year
• New product revenue surged approximately 70% in 2025, expected to be ~25% of total revenue in 2026
• Only fully independent major FPGA manufacturer after AMD acquired Xilinx
• Exceptionally strong balance sheet with 3.24 current ratio and 0.03 debt-to-equity ratio

Named Competitors

• Xilinx — FPGA and adaptive computing platforms
• Altera — High-performance programmable semiconductors

Recent Developments

• (January 2026) Q4 2025 earnings beat expectations with 24.2% YoY revenue growth to $145.8M
• (January 2026) Q1 2026 guidance of $165M (midpoint) raised 11.6% above analyst estimates
• (2025) New product revenue surged 70% YoY, driven by AI and data center growth

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