Lattice Semiconductor (NASDAQ:LSCC) Shares Gap Down - Here's What Happened

Lattice Semiconductor Corporation (NASDAQ:LSCC - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $52.50, but opened at $50.97. Lattice Semiconductor shares last traded at $51.75, with a volume of 169,186 shares trading hands.

Wall Street Analysts Forecast Growth

LSCC has been the subject of several analyst reports. Robert W. Baird boosted their price target on shares of Lattice Semiconductor from $42.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Benchmark reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Lattice Semiconductor in a report on Tuesday, May 6th. KeyCorp reduced their price objective on shares of Lattice Semiconductor from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Raymond James Financial reiterated an "outperform" rating and issued a $64.00 price target (down from $66.00) on shares of Lattice Semiconductor in a research report on Tuesday, May 6th. Finally, Williams Trading set a $60.00 price target on shares of Lattice Semiconductor in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.15.

Lattice Semiconductor Trading Up 1.6%

The company has a fifty day simple moving average of $50.11 and a 200-day simple moving average of $53.20. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 143.53, a P/E/G ratio of 3.61 and a beta of 1.52.

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $120.15 million for the quarter, compared to the consensus estimate of $120.09 million. Lattice Semiconductor had a return on equity of 9.24% and a net margin of 10.51%. The business's revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. As a group, analysts anticipate that Lattice Semiconductor Corporation will post 0.65 earnings per share for the current year.

Insider Transactions at Lattice Semiconductor

In other Lattice Semiconductor news, Director Elizabeth M. Schwarting sold 700 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $52.03, for a total value of $36,421.00. Following the transaction, the director directly owned 8,084 shares of the company's stock, valued at $420,610.52. This represents a 7.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tracy Ann Feanny sold 1,790 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $56.56, for a total value of $101,242.40. Following the completion of the transaction, the senior vice president owned 87,106 shares in the company, valued at $4,926,715.36. This represents a 2.01% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lattice Semiconductor

Hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC raised its stake in Lattice Semiconductor by 5.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,002 shares of the semiconductor company's stock worth $170,000 after acquiring an additional 163 shares in the last quarter. Prudential PLC grew its position in shares of Lattice Semiconductor by 2.1% during the 1st quarter. Prudential PLC now owns 9,199 shares of the semiconductor company's stock worth $482,000 after buying an additional 187 shares during the period. Silvant Capital Management LLC grew its position in shares of Lattice Semiconductor by 2.1% during the 1st quarter. Silvant Capital Management LLC now owns 9,418 shares of the semiconductor company's stock worth $494,000 after buying an additional 198 shares during the period. Allworth Financial LP grew its position in shares of Lattice Semiconductor by 65.7% during the 1st quarter. Allworth Financial LP now owns 560 shares of the semiconductor company's stock worth $28,000 after buying an additional 222 shares during the period. Finally, CWC Advisors LLC. grew its position in shares of Lattice Semiconductor by 2.8% during the 2nd quarter. CWC Advisors LLC. now owns 8,815 shares of the semiconductor company's stock worth $432,000 after buying an additional 236 shares during the period. 98.08% of the stock is owned by institutional investors.

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.