Lattice Semiconductor Corp. Files 2023 10-K Report

TL;DR

<b>Lattice Semiconductor Corp. has filed its annual 10-K report for the fiscal year ending December 30, 2023, providing a comprehensive overview of its financial performance and business operations.</b>

AI Summary

LATTICE SEMICONDUCTOR CORP (LSCC) filed a Annual Report (10-K) with the SEC on February 16, 2024. Lattice Semiconductor Corp. filed its 10-K report for the fiscal year ending December 30, 2023. The company's fiscal year ends on December 30th. The filing was made on February 16, 2024. Key dates mentioned include November 29, 2023, for a previous filing, and February 27, 2025, for a future filing. The report details financial information for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking LATTICE SEMICONDUCTOR CORP, this filing contains several important signals. This 10-K filing provides investors with the most up-to-date and detailed financial information about Lattice Semiconductor Corp., crucial for making informed investment decisions. The report outlines the company's financial health, operational strategies, and potential risks, offering a complete picture of its standing in the semiconductor industry.

Risk Assessment

Risk Level: medium — LATTICE SEMICONDUCTOR CORP shows moderate risk based on this filing. The company's financial performance and future outlook are subject to the inherent risks and uncertainties of the semiconductor industry, including market fluctuations and competitive pressures, as detailed in the 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K filing to assess Lattice Semiconductor Corp.'s performance and future prospects.

Key Numbers

• 2023-12-30 — Fiscal Year End (Conformed period of report)
• 2024-02-16 — Filing Date (Date of filing)
• 2023 — Fiscal Year (Primary year for the 10-K report)
• 2022 — Previous Fiscal Year (Comparative year)
• 2021 — Prior Fiscal Year (Comparative year)

Key Players & Entities

• LATTICE SEMICONDUCTOR CORP (company) — Filer name
• LSCC (company) — Ticker symbol
• 0000855658 (company) — Central Index Key
• 2023-12-30 (date) — Fiscal year end
• 2024-02-16 (date) — Filing date
• Arrow Electronics Inc (company) — Customer mentioned in risk context
• Weikeng Group (company) — Customer mentioned in risk context

FAQ

Risk Factors

• Customer Concentration Risk [medium — market]: The company's revenue is significantly dependent on a few major customers, including Arrow Electronics Inc. and Weikeng Group, posing a risk if these relationships are disrupted.

Key Dates

• 2023-12-30: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-16: Filing Date — The date the 10-K report was officially submitted to the SEC.

Filing Documents

• lscc20231206_10k.htm (10-K) — 1944KB
• ex_603799.htm (EX-4.1) — 22KB
• ex_603807.htm (EX-10.12) — 26KB
• ex_603808.htm (EX-21.1) — 25KB
• ex_603809.htm (EX-23.1) — 2KB
• ex_603810.htm (EX-31.1) — 12KB
• ex_603811.htm (EX-31.2) — 11KB
• ex_603812.htm (EX-32.1) — 5KB
• ex_603813.htm (EX-32.2) — 5KB
• ex_621696.htm (EX-97.1) — 36KB
• latticelogocolorpmsa51.jpg (GRAPHIC) — 21KB
• totalreturngraph2023b.jpg (GRAPHIC) — 149KB
• 0001437749-24-004522.txt (&nbsp;) — 9599KB
• lscc-20231230.xsd (EX-101.SCH) — 79KB
• lscc-20231230_cal.xml (EX-101.CAL) — 68KB
• lscc-20231230_def.xml (EX-101.DEF) — 501KB
• lscc-20231230_lab.xml (EX-101.LAB) — 488KB
• lscc-20231230_pre.xml (EX-101.PRE) — 557KB
• lscc20231206_10k_htm.xml (XML) — 1526KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 23 Item 1C. Cybersecurity 23 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety Disclosures 23 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 24 Item 6. Reserved 25 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 36 Item 9. Changes in and Disagreements with Accountants On Accounting and Financial Disclosure 62 Item 9A.

Controls and Procedures

Controls and Procedures 62 Item 9B. Other Information 63 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 63 PART III Item 10. Directors, Executive Officers and Corporate Governance 63 Item 11.

Executive Compensation

Executive Compensation 64 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 64 Item 13. Certain Relationships and Related Transactions, and Director Independence 64 Item 14. Principal Accountant Fees and Services 64 PART IV Item 15. Exhibits 65

Signatures

Signatures 68 1 Table of Contents Note Regarding Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These involve estimates, assumptions, risks, and uncertainties. Any statements about our expectations, beliefs, plans, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. We use words or phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "possible," "predict," "projects," "may," "will," "should," "continue," "ongoing," "future," "potential," and similar words or phrases to identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our target or expected financial performance and our ability to achieve those results; future impacts of the ongoing military conflicts between Ukraine and Russia, and in the Middle East, and the outbreak of new, or expansion of current, military conflicts or terrorism; the impact of any continuing trade or travel restrictions on the export and import of products between the U.S. and China; the impact of any deterioration in relations between Taiwan and China, and other factors affecting military, political, or economic conditions in Taiwan or elsewhere in Asia; the impact of tariffs, trade sanctions, license requirements or similar actions on our suppliers and customers; the impact of inflationary pressures; future impacts of global pandemics, epidemics, and other public health problems; the effects of climate change and disruptive natural disasters on us, our suppliers, and our consumers, including as a result of actions by governments, businesses, and consumers in response; our business strategy; our opportunities to increase our addressable market; our expectations and strategies regarding ma

Business

Item 1. Business Overview Lattice Semiconductor Corporation and its subsidiaries ("Lattice," the "Company," "we," "us," or "our") develop technologies that we monetize through differentiated programmable logic semiconductor products, system solutions, design services, and licenses. Lattice is the low power programmable leader. We solve customer problems across the network, from the Edge to the Cloud, in the Communications, Computing, Industrial, Automotive, and Consumer markets. Our technology, long-standing relationships, and commitment to world-class support enable our customers to create a smart, secure, and connected world. Our field programmable gate array ("FPGA") devices enable us to provide our customers with a strong, growing base of control, connect, and compute technologies. We believe there are multiple growth areas that will allow us to increase our addressable market. In particular, we believe there are several emerging trends in servers, infrastructure, and smart devices that are opportunities for Lattice: With the growth of hyperscale data centers, our "processor agnostic" solutions are ideal for dataplane control and connect functions in enterprise and data center server applications. With the expected continued Communications infrastructure build-out from 5G deployment and beyond, as well as continued data center network expansion, Lattice solutions are being adopted to control and connect a variety of functions in critical systems. With the increase in electrification and the proliferation of sensors in smart factories, smart homes, and automobiles, our low power, small form factor solutions are ideal for everything from battery powered systems and sensor applications to embedded vision. With the increase in artificial intelligence ("AI") and a multitude of applications at the network edge, Lattice devices support applications like face detection, image recognition, and video analytics. With the demand for more hardware security in the C

View Full Filing

View this 10-K filing on SEC EDGAR