Lattice Semiconductor (NASDAQ:LSCC) Trading 6.5% Higher on Analyst Upgrade

Lattice Semiconductor Co. (NASDAQ:LSCC) shares traded up 6.5% on Wednesday after Stifel Nicolaus raised their price target on the stock from $55.00 to $65.00. Stifel Nicolaus currently has a buy rating on the stock. Lattice Semiconductor traded as high as $63.41 and last traded at $63.33. 232,962 shares changed hands during trading, a decline of 90% from the average session volume of 2,362,672 shares. The stock had previously closed at $59.48.

Several other brokerages have also recently commented on LSCC. Robert W. Baird boosted their price target on shares of Lattice Semiconductor from $44.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lattice Semiconductor from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Susquehanna decreased their price target on shares of Lattice Semiconductor from $65.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target on shares of Lattice Semiconductor in a research note on Wednesday. Finally, TD Cowen decreased their price target on shares of Lattice Semiconductor from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Activity

In related news, SVP Pravin Desale sold 4,387 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.01, for a total transaction of $219,393.87. Following the transaction, the senior vice president now directly owns 365 shares in the company, valued at approximately $18,253.65. This represents a 92.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mark Jon Nelson sold 1,850 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $57.92, for a total transaction of $107,152.00. Following the transaction, the senior vice president now owns 14,279 shares in the company, valued at $827,039.68. The trade was a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,076 shares of company stock worth $421,990. 1.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lattice Semiconductor

Several hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings in Lattice Semiconductor by 26.8% during the 2nd quarter. William Blair Investment Management LLC now owns 3,163,064 shares of the semiconductor company’s stock valued at $183,426,000 after purchasing an additional 668,132 shares during the last quarter. Clearbridge Investments LLC grew its stake in Lattice Semiconductor by 19.3% in the 2nd quarter. Clearbridge Investments LLC now owns 1,822,190 shares of the semiconductor company’s stock worth $105,669,000 after acquiring an additional 294,290 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lattice Semiconductor by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,406,836 shares of the semiconductor company’s stock worth $81,582,000 after acquiring an additional 30,642 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lattice Semiconductor by 63.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,094,289 shares of the semiconductor company’s stock worth $63,456,000 after acquiring an additional 426,511 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Lattice Semiconductor by 5.8% in the 2nd quarter. TD Asset Management Inc now owns 1,050,580 shares of the semiconductor company’s stock worth $60,923,000 after acquiring an additional 57,234 shares in the last quarter. 98.08% of the stock is currently owned by institutional investors.

Lattice Semiconductor Stock Performance

The firm has a market capitalization of $8.69 billion, a P/E ratio of 61.17 and a beta of 1.42. The stock’s 50 day simple moving average is $53.72 and its 200 day simple moving average is $54.26.

Lattice Semiconductor (NASDAQ:LSCC) last issued its earnings results on Monday, November 4th. The semiconductor company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $127.09 million for the quarter, compared to the consensus estimate of $127.05 million. Lattice Semiconductor had a net margin of 25.48% and a return on equity of 16.84%. The company’s revenue for the quarter was down 33.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. On average, analysts anticipate that Lattice Semiconductor Co. will post 0.54 earnings per share for the current year.

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.