Lattice Semiconductor (NASDAQ:LSCC) Shares Gap Up - Should You Buy?

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) shares gapped up prior to trading 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

Several brokerages recently weighed in on LSCC. Benchmark reaffirmed a "buy" rating and issued a $60.00 target price on shares of Lattice Semiconductor in a research report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 target price on shares of Lattice Semiconductor in a research report on Tuesday, May 6th. KeyCorp cut their target price on Lattice Semiconductor from $75.00 to $70.00 and set an "overweight" rating on the stock in a research 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 report on Tuesday, May 6th. Finally, TD Cowen cut their target price on Lattice Semiconductor from $62.00 to $57.00 and set a "buy" rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to data from MarketBeat, Lattice Semiconductor presently has a consensus rating of "Moderate Buy" and an average target price of $63.58.

Lattice Semiconductor Stock Up 1.3%

The stock has a 50 day simple moving average of $51.54 and a 200 day simple moving average of $52.97. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 267.45, a PEG ratio of 4.34 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 EPS for the quarter, hitting the consensus estimate of $0.24. Lattice Semiconductor had a return on equity of 6.61% and a net margin of 6.47%. The business had revenue of $123.97 million for the quarter, compared to analysts' expectations of $123.60 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company's revenue was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Lattice Semiconductor Corporation will post 0.65 EPS for the current fiscal year.

Insider Activity

In related news, SVP Tracy Ann Feanny sold 1,790 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $56.56, for a total value 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. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth M. Schwarting sold 700 shares of the business'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 completion of the transaction, the director owned 8,084 shares in the company, valued at approximately $420,610.52. This trade represents a 7.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors 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 valued at $170,000 after buying an additional 163 shares in the last quarter. Prudential PLC raised its stake in Lattice Semiconductor by 2.1% during the first quarter. Prudential PLC now owns 9,199 shares of the semiconductor company's stock valued at $482,000 after buying an additional 187 shares in the last quarter. Silvant Capital Management LLC raised its stake in Lattice Semiconductor by 2.1% during the first quarter. Silvant Capital Management LLC now owns 9,418 shares of the semiconductor company's stock valued at $494,000 after buying an additional 198 shares in the last quarter. Allworth Financial LP raised its stake in Lattice Semiconductor by 65.7% during the first quarter. Allworth Financial LP now owns 560 shares of the semiconductor company's stock valued at $28,000 after buying an additional 222 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Lattice Semiconductor by 1.0% during the second quarter. ProShare Advisors LLC now owns 22,479 shares of the semiconductor company's stock valued at $1,101,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 98.08% of the company's stock.

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.