Lattice Semiconductor Corporation (LSCC)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	366,188	334,593	301,380	266,655	267,467
Inventory	US$ in thousands	98,826	110,375	67,594	64,599	54,980
Inventory turnover		3.71	3.03	4.46	4.13	4.86

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $366,188K ÷ $98,826K
= 3.71

Lattice Semiconductor Corporation's inventory turnover ratio has fluctuated over the past five years. The ratio indicates how efficiently the company is managing its inventory by measuring how many times the inventory is sold and replaced during a specific period.

In 2023, the inventory turnover ratio improved to 3.71 from 3.03 in 2022, which suggests that the company is selling and replacing its inventory more frequently compared to the previous year. However, it is important to note that the ratio is still lower than the ratios observed in 2021, 2020, and 2019, indicating that the company may not be managing its inventory as efficiently as in those years.

Overall, Lattice Semiconductor Corporation's inventory turnover has shown variability over the past five years, with a general trend of decreasing efficiency in managing inventory since 2019. This could be an area of focus for the company to improve operational efficiency and optimize its inventory management processes in the future.