Lattice Semiconductor (NASDAQ:LSCC) Earns “Buy” Rating from Needham & Company LLC

Lattice Semiconductor (NASDAQ:LSCC)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $61.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 21.25% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Stifel Nicolaus upgraded Lattice Semiconductor from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday. Susquehanna reduced their target price on shares of Lattice Semiconductor from $85.00 to $65.00 and set a “positive” rating on the stock in a report on Tuesday, July 30th. Bank of America cut shares of Lattice Semiconductor from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $83.00 to $47.00 in a research report on Tuesday, July 30th. TD Cowen upgraded shares of Lattice Semiconductor to a “strong-buy” rating in a report on Monday. Finally, Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Lattice Semiconductor in a research note on Monday. Two research analysts have rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.08.

Lattice Semiconductor Price Performance

Shares of NASDAQ:LSCC opened at $50.31 on Tuesday. Lattice Semiconductor has a one year low of $40.65 and a one year high of $87.87. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 32.25 and a beta of 1.38. The firm has a 50 day simple moving average of $49.88 and a 200 day simple moving average of $63.37.

Lattice Semiconductor (NASDAQ:LSCC) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $124.08 million during the quarter, compared to the consensus estimate of $130.17 million. Lattice Semiconductor had a net margin of 30.26% and a return on equity of 23.39%. The firm’s revenue was down 34.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, analysts expect that Lattice Semiconductor will post 0.59 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Mark Jon Nelson sold 1,232 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $48.98, for a total transaction of $60,343.36. Following the completion of the sale, the senior vice president now owns 14,919 shares of the company’s stock, valued at approximately $730,732.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Lattice Semiconductor news, CFO Sherri R. Luther sold 20,632 shares of Lattice Semiconductor stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $48.89, for a total value of $1,008,698.48. Following the completion of the sale, the chief financial officer now directly owns 90,341 shares of the company’s stock, valued at $4,416,771.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark Jon Nelson sold 1,232 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $48.98, for a total transaction of $60,343.36. Following the transaction, the senior vice president now directly owns 14,919 shares in the company, valued at approximately $730,732.62. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in shares of Lattice Semiconductor by 52.6% during the fourth quarter. Truist Financial Corp now owns 3,813 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 1,315 shares during the period. Principal Securities Inc. acquired a new position in Lattice Semiconductor during the fourth quarter worth $31,000. Dimensional Fund Advisors LP lifted its stake in shares of Lattice Semiconductor by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 681,919 shares of the semiconductor company’s stock valued at $47,054,000 after buying an additional 25,849 shares in the last quarter. Norges Bank acquired a new position in shares of Lattice Semiconductor during the fourth quarter valued at about $98,684,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Lattice Semiconductor during the fourth quarter worth about $409,000. 98.08% of the stock is owned by institutional investors and hedge funds.

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.