-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：LSCC第一季度业绩超出预期，营收达到创纪录的1.709亿美元（同比增长42.2%，环比增长17.2%），远高于此前1.58亿美元至1.72亿美元的预期范围以及1.65亿美元的市场普遍预期。非GAAP每股收益为0.41美元（同比增长86%），高于此前0.37美元的预期，主要得益于计算和通信业务的强劲增长（增长86%至1.066亿美元）以及工业业务的加速复苏（环比增长21%至6430万美元）。该公司宣布以16.5亿美元（10亿美元现金，6.5亿美元股票）战略性收购AMI，旨在打造一个完整的安全管理平台，这将使可服务的目标市场规模翻番，并助力其实现年营收超过10亿美元的目标。第二季度营收预期为1.75亿美元至1.95亿美元，每股收益预期为0.42美元至0.46美元，实际营收和每股收益分别达到1.71亿美元和0.38美元，均超出预期。我们认为渠道库存正常化已基本完成，人工智能数据中心的需求推动计算业务营收占比达到总营收的62%。非GAAP毛利率达到70.0%，EBITDA利润率达到39.6%，略高于我们的预期，表明随着业务规模的扩大，运营杠杆效应显著。
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