Lattice Semiconductor (NASDAQ:LSCC) Price Target Cut to $57.00 by Analysts at TD Cowen

Key Points

• TD Cowen has reduced the price target for Lattice Semiconductor from $62.00 to $57.00 while maintaining a "buy" rating, indicating a potential upside of 16.97% from the current price.
• Other analysts have also provided mixed ratings, with KeyCorp lowering their target to $70.00, while others like Robert W. Baird and Rosenblatt Securities raised their targets, suggesting overall confidence in the stock's performance.
• The company reported $123.97 million in revenue for the last quarter, slightly above estimates, with earnings per share matching expectations at $0.24.

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) had its target price lowered by analysts at TD Cowen from $62.00 to $57.00 in a report released on Tuesday, Marketbeat reports. The firm currently has a "buy" rating on the semiconductor company's stock. TD Cowen's price target would suggest a potential downside of 6.13% from the company's current price.

Several other research firms have also weighed in on LSCC. Needham & Company LLC restated a "buy" rating and set a $70.00 price target on shares of Lattice Semiconductor in a report on Tuesday, May 6th. KeyCorp decreased their price target on Lattice Semiconductor from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Rosenblatt Securities restated a "buy" rating and set a $72.00 price target on shares of Lattice Semiconductor in a report on Tuesday, May 6th. Robert W. Baird increased their target price on Lattice Semiconductor from $42.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $64.00 target price (down previously from $66.00) on shares of Lattice Semiconductor in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.58.

Lattice Semiconductor Price Performance

Shares of NASDAQ LSCC traded up $3.14 during midday trading on Tuesday, reaching $60.72. 4,803,959 shares of the stock traded hands, compared to its average volume of 2,470,501. The company's 50 day moving average is $51.20 and its 200 day moving average is $53.00. Lattice Semiconductor has a one year low of $34.69 and a one year high of $70.55. The stock has a market capitalization of $8.31 billion, a PE ratio of 264.01, a P/E/G ratio of 3.82 and a beta of 1.52.

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

Insider Buying and Selling at Lattice Semiconductor

In other news, SVP Tracy Ann Feanny sold 1,790 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $56.56, for a total transaction of $101,242.40. Following the transaction, the senior vice president owned 87,106 shares in the company, valued at approximately $4,926,715.36. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth M. Schwarting sold 700 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.03, for a total value of $36,421.00. Following the transaction, the director owned 8,084 shares in the company, valued at approximately $420,610.52. This represents a 7.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Lattice Semiconductor

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Lattice Semiconductor by 291.0% during the fourth 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 purchasing an additional 4,676,100 shares in the last quarter. Janus Henderson Group PLC boosted its position in Lattice Semiconductor by 740.3% during the fourth quarter. Janus Henderson Group PLC now owns 1,357,119 shares of the semiconductor company's stock valued at $76,843,000 after purchasing an additional 1,195,624 shares in the last quarter. Invesco Ltd. boosted its position in Lattice Semiconductor by 93.2% during the first quarter. Invesco Ltd. now owns 2,158,092 shares of the semiconductor company's stock valued at $113,192,000 after purchasing an additional 1,040,804 shares in the last quarter. Alliancebernstein L.P. boosted its position in Lattice Semiconductor by 146.8% during the first quarter. Alliancebernstein L.P. now owns 1,440,083 shares of the semiconductor company's stock valued at $75,532,000 after purchasing an additional 856,568 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new stake in Lattice Semiconductor during the fourth quarter valued at about $44,147,000. Hedge funds and other institutional investors own 98.08% of the company's stock.

About Lattice Semiconductor

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.