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

Key Points

• Lattice Semiconductor's shares experienced a significant increase, opening at $54.57 after closing at $48.73, and traded at $56.58 during the session.
• Analysts have set varying price targets for the stock, with a consensus price target of $63.58 and a majority rating of "buy" from eleven analysts.
• In a recent earnings report, Lattice Semiconductor reported earnings per share of $0.24 and revenues of $123.97 million, matching analysts' expectations.

Lattice Semiconductor Corporation (NASDAQ:LSCC - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $48.73, but opened at $54.57. Lattice Semiconductor shares last traded at $56.58, with a volume of 553,288 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LSCC shares. Loop Capital lowered their target price on Lattice Semiconductor from $75.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday. Benchmark reiterated a "buy" rating and issued a $60.00 price target on shares of Lattice Semiconductor in a research report on Tuesday. Rosenblatt Securities reiterated a "buy" rating and issued a $72.00 price target on shares of Lattice Semiconductor in a research report on Tuesday. TD Cowen lowered their price objective on shares of Lattice Semiconductor from $62.00 to $57.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Williams Trading set a $60.00 price target on Lattice Semiconductor in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.58.

Lattice Semiconductor Stock Up 4.2%

The stock's 50-day simple moving average is $50.91 and its two-hundred day simple moving average is $52.99. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 260.20, a PEG ratio of 3.78 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 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $123.97 million during the quarter, compared to analyst estimates of $123.60 million. Lattice Semiconductor had a net margin of 6.47% and a return on equity of 6.61%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. On average, sell-side analysts forecast that Lattice Semiconductor Corporation will post 0.65 EPS for the current year.

Insider Activity at Lattice Semiconductor

In other Lattice Semiconductor news, SVP Tracy Ann Feanny sold 1,790 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $56.56, for a total value of $101,242.40. Following the completion of the sale, the senior vice president owned 87,106 shares of the company's stock, valued at $4,926,715.36. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth M. Schwarting sold 700 shares of the firm's stock in a transaction on 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 owned 8,084 shares in the company, valued at $420,610.52. This trade represents a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC acquired a new position in shares of Lattice Semiconductor during the fourth quarter valued at $219,000. ExodusPoint Capital Management LP bought a new stake in shares of Lattice Semiconductor in the fourth quarter worth about $414,000. Prudential PLC grew its holdings in shares of Lattice Semiconductor by 66.4% during the fourth quarter. Prudential PLC now owns 9,012 shares of the semiconductor company's stock worth $511,000 after buying an additional 3,596 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Lattice Semiconductor during the fourth quarter worth about $263,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Lattice Semiconductor by 2.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 103,185 shares of the semiconductor company's stock worth $5,845,000 after buying an additional 2,876 shares in the last quarter. 98.08% of the stock is owned by institutional investors.

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.