Lattice Semiconductor Corporation (NASDAQ:LSCC) Shares Sold by Citigroup Inc.

Key Points

• Citigroup Inc. reduced its holdings in Lattice Semiconductor Corporation by 30.4%, now owning 632,366 shares worth approximately $33.17 million.
• Despite the decline in Citigroup's stake, several institutional investors, including Sumitomo Mitsui Trust Group and SG Americas Securities LLC, increased their investments in Lattice Semiconductor in the first quarter.
• Lattice Semiconductor reported earnings of $0.24 per share for the quarter, matching analyst expectations, and generated revenue of $123.97 million, which slightly exceeded estimates.

Citigroup Inc. lessened its holdings in Lattice Semiconductor Corporation (NASDAQ:LSCC - Free Report) by 30.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 632,366 shares of the semiconductor company's stock after selling 276,844 shares during the quarter. Citigroup Inc. owned 0.46% of Lattice Semiconductor worth $33,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in Lattice Semiconductor by 2.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,544,339 shares of the semiconductor company's stock valued at $1,220,487,000 after purchasing an additional 478,440 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lattice Semiconductor by 291.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,283,157 shares of the semiconductor company's stock valued at $355,942,000 after acquiring an additional 4,676,100 shares during the period. Capital Research Global Investors lifted its position in shares of Lattice Semiconductor by 10.6% during the 4th quarter. Capital Research Global Investors now owns 2,258,500 shares of the semiconductor company's stock valued at $127,944,000 after acquiring an additional 216,617 shares during the period. Bank of America Corp DE lifted its position in shares of Lattice Semiconductor by 18.1% during the 4th quarter. Bank of America Corp DE now owns 1,727,479 shares of the semiconductor company's stock valued at $97,862,000 after acquiring an additional 264,703 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Lattice Semiconductor by 37.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,565,987 shares of the semiconductor company's stock valued at $88,713,000 after acquiring an additional 425,199 shares during the period. Hedge funds and other institutional investors own 98.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LSCC. Williams Trading set a $60.00 price target on shares of Lattice Semiconductor in a research report on Tuesday, May 6th. Raymond James Financial restated an "outperform" rating and set a $64.00 price objective (down from $66.00) on shares of Lattice Semiconductor in a research report on Tuesday, May 6th. Loop Capital cut their price target on Lattice Semiconductor from $75.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. TD Cowen cut their price target on Lattice Semiconductor from $62.00 to $57.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Finally, Robert W. Baird boosted their price target on Lattice Semiconductor from $42.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.58.

Lattice Semiconductor Stock Performance

Lattice Semiconductor stock traded down $0.02 during trading on Friday, reaching $63.53. 2,360,519 shares of the company's stock were exchanged, compared to its average volume of 2,976,547. The company's 50-day moving average is $53.19 and its two-hundred day moving average is $53.21. Lattice Semiconductor Corporation has a 52-week low of $34.69 and a 52-week high of $70.55. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 276.23, a PEG ratio of 4.67 and a beta of 1.52.

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting analysts' consensus estimates of $0.24. The company had revenue of $123.97 million during the quarter, compared to analysts' expectations of $123.60 million. Lattice Semiconductor had a net margin of 6.47% and a return on equity of 6.61%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. Analysts anticipate that Lattice Semiconductor Corporation will post 0.65 EPS for the current year.

Insiders Place Their Bets

In other Lattice Semiconductor news, CAO Tonya Stevens sold 3,439 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $64.92, for a total value of $223,259.88. Following the completion of the transaction, the chief accounting officer directly owned 87,776 shares of the company's stock, valued at $5,698,417.92. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Lattice Semiconductor Company Profile

Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the Lattice Certus and ECP, Mach, iCE, and CrossLink. It also provides video connectivity application specific standard products.