Needham & Company LLC Reaffirms “Buy” Rating for Lattice Semiconductor (NASDAQ:LSCC)

Needham & Company LLC restated their buy rating on shares of Lattice Semiconductor (NASDAQ:LSCC) in a report issued on Tuesday, Benzinga reports. Needham & Company LLC currently has a $61.00 price objective on the semiconductor company’s stock.

LSCC has been the subject of a number of other research reports. KeyCorp dropped their price target on Lattice Semiconductor from $85.00 to $60.00 and set an overweight rating for the company in a research note on Tuesday, July 30th. TD Cowen upgraded shares of Lattice Semiconductor to a strong-buy rating in a research report on Monday, September 16th. Raymond James upgraded shares of Lattice Semiconductor from a market perform rating to an outperform rating and set a $50.00 price target on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lattice Semiconductor from $82.00 to $56.00 and set a buy rating for the company in a research report on Tuesday, July 30th. Finally, Bank of America downgraded Lattice Semiconductor from a neutral rating to an underperform rating and reduced their target price for the company from $83.00 to $47.00 in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lattice Semiconductor currently has an average rating of Moderate Buy and a consensus target price of $63.08.

Lattice Semiconductor Stock Down 2.7 %

Shares of NASDAQ:LSCC opened at $52.82 on Tuesday. Lattice Semiconductor has a 12-month low of $40.65 and a 12-month high of $87.64. The company’s 50 day moving average price is $49.28 and its two-hundred day moving average price is $62.86. The firm has a market cap of $7.27 billion, a PE ratio of 33.86 and a beta of 1.38.

Lattice Semiconductor (NASDAQ:LSCC) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $124.08 million for the quarter, compared to analyst estimates of $130.17 million. Lattice Semiconductor had a return on equity of 23.39% and a net margin of 30.26%. The company’s quarterly revenue was down 34.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. On average, research analysts expect that Lattice Semiconductor will post 0.59 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Lattice Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of LSCC. Franklin Resources Inc. lifted its holdings in Lattice Semiconductor by 43.5% during the 4th quarter. Franklin Resources Inc. now owns 6,236,871 shares of the semiconductor company’s stock worth $430,282,000 after buying an additional 1,889,110 shares during the period. Norges Bank acquired a new stake in Lattice Semiconductor during the 4th quarter valued at approximately $98,684,000. Rokos Capital Management LLP raised its holdings in Lattice Semiconductor by 1,592.8% during the 1st quarter. Rokos Capital Management LLP now owns 1,212,878 shares of the semiconductor company’s stock worth $94,896,000 after purchasing an additional 1,141,230 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Lattice Semiconductor by 78.7% in the 1st quarter. William Blair Investment Management LLC now owns 2,494,932 shares of the semiconductor company’s stock worth $195,179,000 after purchasing an additional 1,098,962 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Lattice Semiconductor by 6.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 9,544,835 shares of the semiconductor company’s stock valued at $658,498,000 after purchasing an additional 611,550 shares during the last quarter. 98.08% of the stock is currently owned by institutional investors and hedge funds.

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.