Lattice Semiconductor (NASDAQ:LSCC) Shares Gap Down on Analyst Downgrade

Lattice Semiconductor Co. (NASDAQ:LSCC) shares gapped down prior to trading on Tuesday after Raymond James lowered their price target on the stock from $55.00 to $52.00. The stock had previously closed at $51.89, but opened at $48.91. Raymond James currently has an outperform rating on the stock. Lattice Semiconductor shares last traded at $49.34, with a volume of 2,076,025 shares changing hands.

A number of other brokerages also recently commented on LSCC. Stifel Nicolaus raised Lattice Semiconductor from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, September 17th. Robert W. Baird reduced their price target on shares of Lattice Semiconductor from $70.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday. StockNews.com downgraded Lattice Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Bank of America downgraded Lattice Semiconductor from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $83.00 to $47.00 in a research note on Tuesday, July 30th. Finally, Susquehanna cut their target price on shares of Lattice Semiconductor from $65.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.42.

Insider Buying and Selling

In other news, SVP Mark Jon Nelson sold 1,232 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 14,919 shares of the company’s stock, valued at $730,732.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Mark Jon Nelson sold 1,232 shares of the 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sherri R. Luther sold 20,632 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 90,341 shares in the company, valued at approximately $4,416,771.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lattice Semiconductor

Large investors have recently added to or reduced their stakes in the company. Rokos Capital Management LLP raised its holdings in Lattice Semiconductor by 1,592.8% during the first 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 in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Lattice Semiconductor by 78.7% during the first quarter. William Blair Investment Management LLC now owns 2,494,932 shares of the semiconductor company’s stock valued at $195,179,000 after buying an additional 1,098,962 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Lattice Semiconductor by 63.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,094,289 shares of the semiconductor company’s stock valued at $63,456,000 after buying an additional 426,511 shares during the period. Clearbridge Investments LLC lifted 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. Finally, TD Asset Management Inc boosted its holdings in shares of Lattice Semiconductor by 34.8% during the first quarter. TD Asset Management Inc now owns 993,346 shares of the semiconductor company’s stock worth $77,709,000 after purchasing an additional 256,405 shares during the period. 98.08% of the stock is currently owned by institutional investors.

Lattice Semiconductor Price Performance

The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 37.63 and a beta of 1.39. The firm’s fifty day moving average is $50.24 and its 200 day moving average is $57.17.

Lattice Semiconductor (NASDAQ:LSCC) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Lattice Semiconductor had a return on equity of 23.39% and a net margin of 30.26%. The business had revenue of $127.09 million during the quarter, compared to analysts’ expectations of $127.05 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s quarterly revenue was down 33.9% compared to the same quarter last year. Equities research analysts forecast that Lattice Semiconductor Co. will post 0.59 EPS for the current fiscal 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.