Lattice Semiconductor (NASDAQ:LSCC) Shares Up 13% – Still a Buy?

Lattice Semiconductor Co. (NASDAQ:LSCC)’s share price shot up 13% during mid-day trading on Monday . The company traded as high as $55.64 and last traded at $56.08. 620,201 shares were traded during trading, a decline of 78% from the average session volume of 2,826,760 shares. The stock had previously closed at $49.63.

Analyst Upgrades and Downgrades

A number of analysts have commented on LSCC shares. Rosenblatt Securities restated a “buy” rating and set a $72.00 price target on shares of Lattice Semiconductor in a research note on Tuesday, May 6th. StockNews.com lowered shares of Lattice Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. TD Cowen boosted their price target on shares of Lattice Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Raymond James restated an “outperform” rating and set a $64.00 price target (down previously from $66.00) on shares of Lattice Semiconductor in a research note on Tuesday, May 6th. Finally, Susquehanna upped their target price on shares of Lattice Semiconductor from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.93.

Lattice Semiconductor Stock Up 12.2%

The company has a market cap of $7.66 billion, a P/E ratio of 126.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.60. The company’s 50-day moving average is $51.15 and its two-hundred day moving average is $55.33.

Lattice Semiconductor (NASDAQ:LSCC) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $120.15 million for the quarter, compared to the consensus estimate of $120.09 million. Lattice Semiconductor had a net margin of 12.00% and a return on equity of 11.22%. The company’s revenue was down 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, analysts anticipate that Lattice Semiconductor Co. will post 0.65 EPS for the current fiscal year.

Insider Transactions at Lattice Semiconductor

In other news, Director Robin Ann Abrams sold 10,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.97, for a total value of $639,700.00. Following the sale, the director now directly owns 122,538 shares of the company’s stock, valued at approximately $7,838,755.86. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Pravin Desale sold 2,890 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.29, for a total transaction of $197,358.10. Following the completion of the sale, the senior vice president now directly owns 93,903 shares in the company, valued at approximately $6,412,635.87. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Lattice Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Lattice Semiconductor by 2.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,544,339 shares of the semiconductor company’s stock worth $1,220,487,000 after buying an additional 478,440 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Lattice Semiconductor by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,944,397 shares of the semiconductor company’s stock worth $846,600,000 after purchasing an additional 229,820 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lattice Semiconductor by 291.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,283,157 shares of the semiconductor company’s stock worth $355,942,000 after purchasing an additional 4,676,100 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lattice Semiconductor by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 3,055,445 shares of the semiconductor company’s stock worth $173,132,000 after purchasing an additional 74,655 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of Lattice Semiconductor by 10.6% in the fourth quarter. Capital Research Global Investors now owns 2,258,500 shares of the semiconductor company’s stock worth $127,944,000 after purchasing an additional 216,617 shares during the last quarter. 98.08% of the stock is owned by hedge funds and other institutional investors.

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.