On November 3, Lattice Semiconductor rose 8.93% Overnight. The move followed a quarterly earnings release that exceeded market expectations and was accompanied by guidance above consensus.

For fiscal Q3, non-GAAP EPS was $0.72 versus the $0.55 consensus, while revenue reached $291.0 million versus the expected $255.9 million. The company said FPGA revenue rose about 90% year over year, supported by strong demand in data center and communications applications, as well as growth in industrial and embedded markets. Adjusted gross margin was 70.9%, up 140 basis points from a year earlier.

For fiscal Q4, Lattice Semiconductor guided non-GAAP EPS to $0.82-$0.86 and revenue to $325 million-$345 million, both above analyst expectations of $0.65 and $293.2 million, respectively. That combination of an earnings beat, revenue beat, and stronger forward outlook offers strong explanatory power for the Overnight rise.

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