AMD vs. Lattice Semiconductor: Which FPGA Stock Has the Edge?

Advanced Micro Devices AMD and Lattice Semiconductor LSCC are major players in the FPGA (Field-Programmable Gate Array) market. AMD entered this space through its acquisition of Xilinx, while LSCC specializes in low-power FPGAs for applications like industrial automation and edge computing.Per the Mordor intelligence report, the FPGA Market size is projected to be valued at $11.14 billion in 2025. It is expected to reach $18.76 billion by 2030, at a CAGR of 10.98% during the forecast period of 2025-2030. AMD and LSCC are likely to benefit from the significant growth opportunity highlighted by the rapid pace of growth.So, AMD or LSCC — Which of these FPGA stocks has the greater upside potential? Let’s find out.The Case for AMDAdvanced Micro Devices’ acquisition of Xilinx has helped expand into multiple embedded markets, which primarily include embedded CPUs, GPUs, APUs, FPGAs, System on Modules and adaptive SoC products.The acquisition of Xilinx has helped AMD to consistently push the boundaries of capacity in emulation devices, with each generation nearly doubling its capabilities. The latest VP1902 adaptive SoC offers an impressive 18.5 million logic cells, doubling the programmable logic density of the previous generation Virtex UltraScale+ VU19P FPGA. AMD’s expanding portfolio has been noteworthy. In the first quarter of 2025, AMD announced the availability of a high-performance, energy-efficient 5G core powered by the Virtex UltraScale+ XCVU5P FPGA, developed in collaboration with Napatech and Druid Software.AMD also completed its initial shipments of cost-optimized Spartan UltraScale Plus FPGAs and second-generation Versal AI Edge SoCs during the first quarter, meeting the growing demand for AI at the Edge.AMD is also actively expanding its partnerships with major cloud providers, such as AWS, and incorporating its products into new FPGA-accelerated instances. In the first quarter of 2025, AWS launched FPGA-accelerated instances powered by AMD’s EPYC processors and Xilinx Virtex FPGAs. These instances are optimized for data-intensive workloads such as genomics, multimedia processing, and cloud-based video broadcasting.The Case for LSCCLattice Semiconductor is benefiting from strong demand for its small and mid-range FPGA solutions. The company has continued to expand its footprint in this market, particularly with its Nexus and Avant product families. This has enabled the company to capitalize on new opportunities in high-growth industries.Building on this momentum, Lattice has positioned its FPGAs in high-growth applications, including AI, data centers, and advanced driver-assistance systems in automotive, along with other emerging markets, such as security, including Post-Quantum Cryptography and AR/VR in consumer markets. Further strengthening its position in February 2025, the company announced the successful validation of Everspin Technologies' PERSYST Magnetoresistive Random Access Memory (MRAM) for use across all of Lattice’s Field Programmable Gate Arrays (FPGAs).This collaboration aims to enhance MRAM’s suitability for mission-critical applications, including real-time sensor processing, data logging in avionics, and in-orbit reprogramming for space systems.Price Performance and Valuation of AMD and LSCCYear to date, shares of AMD and LSCC have lost 6.9% and 1.4%, respectively. The dip in AMD and LSCC share prices can be attributed to the challenging macroeconomic environment. A broader market weakness in the tech sector and persistent fear over mounting tariffs have added to the pressure. AMD and LSCC Stock's PerformanceImage Source: Zacks Investment ResearchValuation-wise, AMD and LSCC shares are currently overvalued, as suggested by a Value Score of D and F. In terms of the forward 12-month Price/Sales, AMD shares are trading at 5.41X, which is lower than LSCC's 13.91X.AMD and LSCC ValuationImage Source: Zacks Investment ResearchHow Do Earnings Estimates Compare for AMD & LSCC?The Zacks Consensus Estimate for AMD’s 2025 earnings is pegged at $4.09 per share, which has declined 10% over the past 30 days, indicating a 23.56% increase year over year.Advanced Micro Devices, Inc. Price and Consensus Advanced Micro Devices, Inc. price-consensus-chart | Advanced Micro Devices, Inc. QuoteThe Zacks Consensus Estimate for LSCC’s 2025 earnings is pegged at $1.05 per share, which has decreased 4.5% over the past 30 days, indicating a 16.67% increase year over year.Lattice Semiconductor Corporation Price and Consensus Lattice Semiconductor Corporation price-consensus-chart | Lattice Semiconductor Corporation QuoteAMD earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an average surprise of 2.30%. LSCC earnings missed the Zacks Consensus Estimate in two of the trailing four quarters and were in line with the other two, delivering a negative average earnings surprise of 6.31%.ConclusionAMD’s strong portfolio expansion and partnerships position it for robust growth in the FPGA market, while LSCC’s focus on low-power solutions continues to capture emerging opportunities. However, AMD’s valuation and earnings estimates suggest it may offer greater upside potential than LSCC.Currently, AMD has a Zacks Rank #3 (Hold), making the stock a stronger pick than LSCC, which has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report Lattice Semiconductor Corporation (LSCC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks