entityLSCCstock-market
Lattice Semiconductor (LSCC)
Notes
Lattice Semiconductor (LSCC)
Low-power FPGA leader tracked for the AI server management layer thesis: Lattice FPGAs physically implement BMC (baseboard management controllers) in server hardware, and the pending AMI acquisition ($1.65B, Q3 2026) adds the dominant platform firmware stack. Together, they form the control plane for every AI rack regardless of GPU vendor.
Key facts
- Q1 2026: $170.9M revenue (+42.2% YoY); Compute and Communications segment $106.6M (+86% YoY, 62% of total); adjusted EPS $0.41 vs $0.37 consensus. Q2 guide $175M–$195M. From 2026-05-22-autoresearch-lattice-lscc-ami-q1-2026.
- AMI acquisition: $1.65B ($1.0B cash + ~$650M LSCC shares); expected Q3 2026 close; AMI projected $200M+ FY2026 revenue. Combined Q4 2026 run rate ~$220-240M/quarter ($900M-$960M annualized). From 2026-05-22-autoresearch-lattice-lscc-ami-q1-2026.
- LSCC stock: +50% YTD 2026 at time of Q1 report. Thesis is being priced in; valuation risk is the key watch at graduation.
- Management Q1 framing: "industry's most complete secure management and control platform" for AI servers — management is articulating the thesis directly. From 2026-05-22-autoresearch-lattice-lscc-ami-q1-2026.
- FPGAs are embedded in virtually every server type (AMD EPYC, Intel Xeon, Arm-based) — gives ecosystem-neutral exposure regardless of GPU or foundry winner.
Open questions
- lattice-fpga-ai-cluster-management-layer — at ~60% graduation criteria met; full graduation expected at Q3 2026 AMI close + first combined guidance
- Is LSCC's +50% YTD already pricing in the AMI synergies? Forward P/E context needed
- Has any hyperscaler named LSCC/AMI explicitly in a BOM disclosure?
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