How Unusual Is Lattice’s Latest Sales Growth?
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Lattice Semiconductor (LSCC) sold 62.2% more in its latest quarter than it did during the same quarter a year earlier. This pace in fiscal Q2 2026, which ended July 4, marks the company’s fastest sales growth in ten years. It is worth measuring a figure that far outside the norm against the company’s own past before leaning on it. So what would you guess Lattice’s sales growth usually is?
How Unusual Is This For Lattice?
The pace is very unusual. Over the 40 fiscal quarters to July 2026, the middle value of Lattice’s sales growth was just 4.7%, meaning the company typically sells only slightly more than it did the year before.
| Quarter ended | Sales, change from the same quarter a year earlier |
|---|---|
| 2017-07-01 (Q2 FY2017) | -5.1% |
| 2018-06-30 (Q2 FY2018) | 9.1% |
| 2019-06-29 (Q2 FY2019) | -0.408% |
| 2020-06-27 (Q2 FY2020) | -1.7% |
| 2021-07-03 (Q2 FY2021) | 25.2% |
| 2022-07-02 (Q2 FY2022) | 28.2% |
| 2023-07-01 (Q2 FY2023) | 17.8% |
| 2024-06-29 (Q2 FY2024) | -34.7% |
| 2025-06-28 (Q2 FY2025) | -0.0846% |
| 2026-07-04 (Q2 FY2026) | 62.2% |
One fiscal quarter in each row: the same fiscal quarter in each year, 2017-07-01 (Q2 FY2017) to 2026-07-04 (Q2 FY2026).
The record Lattice broke was its own, set one quarter earlier at 42.2% in fiscal Q1 2026, which ended April 4. Because Lattice has now established a new high for two consecutive quarters, the company is extending a record rather than recording an isolated jump.
What Is Behind Lattice’s Record Sales Growth?
Management said on the August 4, 2026 call that Lattice sold more in every market it serves. The Compute and Communications business grew 83% from a year earlier, a gain management tied to continued momentum in data center AI applications. Industrial and Embedded sales rose 36% as that market sustained its recovery.
Newer chips add to the gain. Management expects new products to pass 25% of total revenue in 2026, and said some of these chips now sell at higher prices because customers require more complex security.
Is The Latest Quarter Still Improving?
Yes, sales growth is still gaining speed. Some of that speed comes from a low baseline. Over the twelve months to June 28, 2025, Lattice’s sales fell 22.1% from the year before. Growth has picked up in every quarter since then, rising from 4.9% in fiscal Q3 2025 to 24.2% in fiscal Q4 2025 before hitting the two records.
Over the twelve months to July 4, 2026, sales grew 33.3%, falling well short of the latest quarter’s pace. This means the newest quarter is still running ahead of the year as a whole, rather than lagging behind it.
When The Record Is Next Tested
The next report will show whether Lattice can extend the record for a third quarter. During the August call, management said growth in the FPGA business is still speeding up and that 2027 is “pretty much booked.” Management also said chip assembly capacity is tight across the industry. They expected supply and demand to come into line by September 2026, with Lattice in good shape in the fourth quarter.
Fiscal Q3 2026 sales will also include revenue from AMI, a firmware company Lattice acquired. This revenue covers the portion of the quarter following the deal’s close in the week before the August 4 call. Because Lattice did not own AMI a year earlier, these sales will lift the quarter’s growth from a year earlier. Ahead of the next report, Lattice stock returned 45.6% over the year to October 28, 2026, compared with 14.0% for the S&P 500.
The number to watch in the November 2026 report is Lattice’s fiscal Q3 2026 sales growth from a year earlier, measured against the 62.2% it reported for the quarter to July.
How To Act On LSCC?
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