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Lattice Semiconductor vs IPG Photonics: LSCC and IPGP compared
Lattice Semiconductor is the larger company: $291M of revenue in its latest quarter (Q3 2026) against $288M for IPG Photonics (Q3 2026). Lattice Semiconductor is growing faster (+118% against +15% a year earlier). Lattice Semiconductor is more profitable, with an operating margin of 8.2% against 7.2%.
Where the money goes: LSCC and IPGP
Lattice Semiconductor (LSCC) · Q3 2026
Lattice Semiconductor, Q3 2026: revenue $291M (+118% year over year), operating margin 8.2%, net earnings $11.2M, operating cash flow $95.0M. The chart follows the revenue to costs, profit and cash.
IPG Photonics (IPGP) · Q3 2026
IPG Photonics, Q3 2026: revenue $288M (+15% year over year), operating margin 7.2%, net earnings $20.3M, operating cash flow $46.2M. The chart follows the revenue to costs, profit and cash.
| Lattice Semiconductor (LSCC) | IPG Photonics (IPGP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $291M | $288M |
| Revenue growth, Y/Y | +118% | +15% |
| Gross margin | 67.4% | 40.7% |
| Operating margin | 8.2% | 7.2% |
| Net earnings | $11.2M | $20.3M |
| Net margin | 3.9% | 7.1% |
| Operating cash flow | $95.0M | $46.2M |
| Free cash flow | $77.6M | $28.8M |
| Market value | $17.7B | $3.4B |
| P/E | — | 84.2× |
| Analysts’ mean target | $156.19 | $118.43 |
Where the revenue comes from
Lattice Semiconductor
- Fpga: $252M (87%)
- Ami: $39.1M (13%)
IPG Photonics
- Lasers and Components: $226M (79%)
- Systems: $61.5M (21%)
Questions
Which is bigger, Lattice Semiconductor or IPG Photonics?
Lattice Semiconductor is the larger company: $291M of revenue in its latest quarter (Q3 2026) against $288M for IPG Photonics (Q3 2026).
Is Lattice Semiconductor or IPG Photonics growing faster?
Lattice Semiconductor is growing faster (+118% against +15% a year earlier).
Which is more profitable, Lattice Semiconductor or IPG Photonics?
Lattice Semiconductor is more profitable, with an operating margin of 8.2% against 7.2%.
More: Lattice Semiconductor earnings · how Lattice Semiconductor makes money · IPG Photonics earnings · how IPG Photonics makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.