In the dynamic world of semiconductors, Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA) stand out as key players, each carving a niche in the innovation-driven tech landscape. While both companies operate within the same industry, their distinct strategies highlight different avenues of growth—Lattice focuses on programmable logic devices, while CEVA specializes in wireless connectivity and smart sensing technologies. As we delve into this comparison, I aim to uncover which company presents the more compelling investment opportunity for you, the discerning investor.
Table of contents
Company Overview
Lattice Semiconductor Corporation Overview
Lattice Semiconductor Corporation (LSCC) specializes in developing and selling semiconductor products across various regions, including Asia, Europe, and the Americas. Founded in 1983 and headquartered in Hillsboro, Oregon, Lattice offers a diverse array of field programmable gate arrays (FPGAs) and video connectivity solutions. The company primarily serves original equipment manufacturers (OEMs) in the communications, computing, consumer, and automotive sectors. With a market capitalization of approximately $9.6B and a focus on innovation, Lattice positions itself as a key player in the semiconductor industry, leveraging its technology portfolio through IP licensing and direct sales to enhance its market presence.
CEVA, Inc. Overview
CEVA, Inc. operates as a leading licensor of wireless connectivity and smart sensing technologies, catering to semiconductor firms and OEMs globally. Established in 1999 and based in Rockville, Maryland, CEVA designs and licenses digital signal processors (DSPs), AI processors, and integrated IP solutions for various applications, including 5G, IoT, imaging, and voice input. With a market capitalization of about $518M, CEVA focuses on facilitating the development of cutting-edge technologies for industries such as automotive, industrial, and consumer electronics. The company’s emphasis on innovative DSP cores and software solutions positions it as a significant contributor to the growth of smart devices and connectivity solutions.
Key similarities and differences
Both Lattice Semiconductor and CEVA operate within the semiconductor industry, focusing on innovative technology solutions. However, while Lattice emphasizes FPGAs and video connectivity, CEVA specializes in wireless connectivity and smart sensing technologies. This distinction in their product offerings reflects their different approaches to serving OEMs and addressing market needs.
Income Statement Comparison
The following table provides a comparison of the most recent income statements for Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA), highlighting key financial metrics.
| Metric | Lattice Semiconductor (LSCC) | CEVA, Inc. (CEVA) |
|---|---|---|
| Market Cap | 9.60B | 518.54M |
| Revenue | 509.40M | 106.94M |
| EBITDA | 106.94M | -3.41M |
| EBIT | 60.68M | -7.55M |
| Net Income | 61.13M | -8.79M |
| EPS | 0.44 | -0.37 |
| Fiscal Year | 2024 | 2024 |
Interpretation of Income Statement
In the most recent fiscal year, Lattice Semiconductor demonstrated a decline in revenue from 737.15M to 509.40M, indicating a slowing growth trajectory. However, its net income remained positive at 61.13M, suggesting improved operational efficiency despite the revenue drop. In contrast, CEVA’s financials reveal a challenging year, with a revenue increase to 106.94M but a significant net loss of 8.79M, reflecting ongoing struggles with profitability. The contrasting performances highlight Lattice’s stable margins versus CEVA’s need for strategic adjustments to enhance profitability.
Financial Ratios Comparison
The following table compares key financial ratios for Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA) based on the most recent available data.
| Metric | LSCC | CEVA |
|---|---|---|
| ROE | 37.4% | -3.3% |
| ROIC | 34.5% | -8.6% |
| P/E | 36.7 | -44.9 |
| P/B | 13.7 | 2.0 |
| Current Ratio | 3.66 | 7.09 |
| Quick Ratio | 2.62 | 7.09 |
| D/E | 0.02 | 0.02 |
| Debt-to-Assets | 1.8% | 2.1% |
| Interest Coverage | 129.5 | N/A |
| Asset Turnover | 0.60 | 0.32 |
| Fixed Asset Turnover | 7.62 | 8.43 |
| Payout Ratio | 0% | 0% |
| Dividend Yield | 0% | 0% |
Interpretation of Financial Ratios
Lattice Semiconductor (LSCC) demonstrates strong profitability with a ROE of 37.4% and a robust interest coverage ratio of 129.5, indicating effective management of debt. In contrast, CEVA’s negative ROE and profit margins suggest operational challenges. CEVA’s higher current and quick ratios indicate better liquidity, yet its overall financial performance raises concerns due to negative profitability metrics. Investors should exercise caution when considering CEVA compared to LSCC.
Dividend and Shareholder Returns
Lattice Semiconductor Corporation (LSCC) does not pay dividends, reflecting its reinvestment strategy during a growth phase. This approach allows the company to focus on research and development, which can foster long-term value creation. Notably, LSCC engages in share buybacks, signaling confidence in its future prospects. Conversely, CEVA, Inc. also refrains from paying dividends, primarily due to negative net income. The lack of distributions in both cases suggests a commitment to growth, though investors should monitor profitability and cash flow to assess sustainability.
Strategic Positioning
Lattice Semiconductor (LSCC) holds a strong position in the semiconductor market with a market cap of $9.6B, focusing on programmable gate arrays. It faces competitive pressure from CEVA (market cap of $518M), which specializes in wireless connectivity technologies. Both companies are subject to technological disruptions, but LSCC’s diverse product range and strategic licensing of IP positions it favorably against CEVA’s narrower focus. Investors should consider these dynamics when evaluating investment opportunities.
Stock Comparison
In this section, I will evaluate the weekly stock price movements of Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA) over the past year, highlighting key price dynamics and investor sentiment.
Trend Analysis
Lattice Semiconductor Corporation (LSCC) Over the past year, LSCC has demonstrated a price change of +8.7%, indicating a bullish trend. The stock reached a notable high of 80.45 and a low of 39.03. However, the trend is showing signs of deceleration, with a standard deviation of 9.95 suggesting some volatility. In a more recent analysis from September 14, 2025, to November 30, 2025, there was a price change of +9.0%, but with a trend slope of -0.23, indicating a slowing momentum.
CEVA, Inc. (CEVA) CEVA has experienced a price change of +2.37% over the past year, categorizing it as a bullish trend as well. The stock’s high and low were 34.67 and 17.39, respectively. Similar to LSCC, CEVA’s overall trend shows deceleration with a standard deviation of 4.47. However, during the recent period from September 14, 2025, to November 30, 2025, CEVA has seen a negative price change of -8.56%, highlighting a bearish phase with a trend slope of -0.38 and indicating a decline in momentum.
In summary, while both companies currently exhibit bullish trends over the longer term, CEVA’s recent performance suggests potential caution as it faces a downward adjustment.
Analyst Opinions
Recent recommendations for Lattice Semiconductor Corporation (LSCC) show a consensus rating of “Hold” with an overall score of 3. Analysts emphasize its strong return on assets (4) and moderate debt-to-equity ratio (3), despite concerns around its price-to-earnings score (1) (Analyst: Not specified). On the other hand, CEVA, Inc. (CEVA) has a consensus rating of “Sell” with a score of 2, primarily due to weak return on equity (1) and return on assets (1), although it maintains a decent discounted cash flow score (3) (Analyst: Not specified).
Stock Grades
In today’s analysis, I will present the latest stock ratings for Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA), providing insights from recognized grading companies.
Lattice Semiconductor Corporation Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Rosenblatt | maintain | Buy | 2025-11-04 |
| Needham | maintain | Buy | 2025-11-04 |
| Benchmark | maintain | Buy | 2025-11-04 |
| Stifel | maintain | Buy | 2025-11-04 |
| Baird | maintain | Outperform | 2025-11-04 |
| Susquehanna | maintain | Positive | 2025-10-22 |
| Keybanc | maintain | Overweight | 2025-09-30 |
| Needham | maintain | Buy | 2025-09-22 |
| Benchmark | maintain | Buy | 2025-09-11 |
| Benchmark | maintain | Buy | 2025-08-05 |
CEVA, Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Barclays | maintain | Overweight | 2025-11-12 |
| Rosenblatt | maintain | Buy | 2025-11-11 |
| Rosenblatt | maintain | Buy | 2025-08-14 |
| Oppenheimer | maintain | Outperform | 2025-05-09 |
| Rosenblatt | maintain | Buy | 2025-05-08 |
| Barclays | maintain | Overweight | 2025-05-08 |
| Rosenblatt | maintain | Buy | 2025-04-23 |
| Rosenblatt | maintain | Buy | 2025-02-14 |
| Barclays | maintain | Overweight | 2025-02-14 |
| Rosenblatt | maintain | Buy | 2025-02-11 |
The overall trend in grades for both companies remains positive, with multiple analysts maintaining their buy or outperform ratings. This indicates a strong level of confidence among analysts regarding the continued performance of LSCC and CEVA in the market.
Target Prices
For Lattice Semiconductor Corporation (LSCC), reliable target price data indicates a consensus among analysts, reflecting a positive outlook on the stock.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Lattice Semiconductor Corporation (LSCC) | 85 | 65 | 79 |
The consensus target price of 79 suggests that analysts are optimistic compared to the current price of 70.21, indicating potential for growth. Unfortunately, no verified target price data is available for CEVA, Inc. (CEVA), which may reflect uncertain market sentiment regarding the stock.
Strengths and Weaknesses
The following table outlines the strengths and weaknesses of Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA) based on recent performance metrics.
| Criterion | Lattice Semiconductor (LSCC) | CEVA, Inc. (CEVA) |
|---|---|---|
| Diversification | Moderate focus on semiconductors | Limited diversification in wireless technologies |
| Profitability | High profit margins, net margin at 35% | Negative net margin of -12% |
| Innovation | Strong investment in R&D | Moderate innovation with emerging technologies |
| Global presence | Established in North America, Europe, and Asia | Focus primarily on North American market |
| Market Share | Significant share in FPGA market | Smaller share in DSP and AI sectors |
| Debt level | Very low debt-to-equity ratio (0.02) | Low debt-to-equity ratio (0.02) but higher relative leverage |
Key takeaways indicate that while LSCC demonstrates strong profitability and low debt levels, CEVA faces challenges with negative margins. LSCC’s robust global presence and market share in semiconductors further enhance its position compared to CEVA’s more limited reach and weaker financial metrics.
Risk Analysis
In this section, I present a comparative risk analysis for Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA) using key risk metrics.
| Metric | LSCC | CEVA |
|---|---|---|
| Market Risk | High (Beta 1.72) | Moderate (Beta 1.45) |
| Regulatory Risk | Moderate | High |
| Operational Risk | Low | High |
| Environmental Risk | Low | Moderate |
| Geopolitical Risk | Moderate | High |
Both companies face notable risks, with CEVA experiencing heightened operational and regulatory challenges. CEVA’s negative net profit margins indicate underlying operational struggles, while LSCC’s strong market presence and lower operational risk position it more favorably in the semiconductor landscape.
Which one to choose?
When comparing Lattice Semiconductor Corporation (LSCC) and CEVA, Inc. (CEVA), LSCC emerges as the more favorable option for investors. LSCC boasts stronger fundamentals, with a gross profit margin of 66.8% and a net profit margin of 12.0%, compared to CEVA’s gross profit margin of 88.1% but negative net margins. Additionally, LSCC’s price-to-earnings ratio stands at 36.7, indicating a more reasonable valuation relative to its growth prospects. Analysts rate LSCC at a B- while CEVA is rated C+, reflecting the latter’s challenges in profitability and operational efficiency.
For growth-oriented investors, LSCC appears to be a strong candidate due to its solid margins and better overall financial health. Conversely, those seeking stability may consider CEVA, albeit with caution due to its ongoing profitability issues and market volatility.
Disclaimer: This article is not financial advice. Each investor is responsible for their own investment decisions.
Go further
I encourage you to read the complete analyses of Lattice Semiconductor Corporation and CEVA, Inc. to enhance your investment decisions:
