Lattice Semiconductor Co. (NASDAQ:LSCC – Get Rating) – Research analysts at KeyCorp raised their Q2 2023 EPS estimates for Lattice Semiconductor in a report released on Monday, April 10th. KeyCorp analyst J. Vinh now expects that the semiconductor company will post earnings per share of $0.41 for the quarter, up from their previous forecast of $0.40. KeyCorp has a “Overweight” rating and a $110.00 price target on the stock. The consensus estimate for Lattice Semiconductor’s current full-year earnings is $1.69 per share. KeyCorp also issued estimates for Lattice Semiconductor’s Q3 2023 earnings at $0.45 EPS, Q4 2023 earnings at $0.51 EPS, FY2023 earnings at $1.79 EPS, Q1 2024 earnings at $0.51 EPS, Q2 2024 earnings at $0.54 EPS, Q3 2024 earnings at $0.57 EPS and Q4 2024 earnings at $0.59 EPS.
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Lattice Semiconductor from $60.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, February 14th. Susquehanna upped their target price on Lattice Semiconductor from $75.00 to $95.00 and gave the company a “positive” rating in a research report on Tuesday, February 14th. Cowen lifted their price target on Lattice Semiconductor from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 14th. Rosenblatt Securities increased their price objective on Lattice Semiconductor from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Finally, Benchmark raised their target price on shares of Lattice Semiconductor from $65.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.90.
Lattice Semiconductor Stock Performance
Lattice Semiconductor (NASDAQ:LSCC – Get Rating) last released its quarterly earnings data on Monday, February 13th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $175.96 million during the quarter, compared to analysts’ expectations of $174.73 million. Lattice Semiconductor had a net margin of 27.09% and a return on equity of 42.26%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS.
Institutional Investors Weigh In On Lattice Semiconductor
Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Lattice Semiconductor by 29.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,573 shares of the semiconductor company’s stock valued at $462,000 after buying an additional 1,737 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Lattice Semiconductor in the first quarter valued at $122,000. Great West Life Assurance Co. Can lifted its position in shares of Lattice Semiconductor by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 74,396 shares of the semiconductor company’s stock valued at $4,660,000 after acquiring an additional 5,572 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Lattice Semiconductor by 5.6% during the first quarter. Canada Pension Plan Investment Board now owns 35,300 shares of the semiconductor company’s stock valued at $2,151,000 after acquiring an additional 1,886 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in Lattice Semiconductor during the 1st quarter worth about $6,647,000. 97.09% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Lattice Semiconductor
In other news, CEO James Robert Anderson sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $82.95, for a total value of $3,318,000.00. Following the completion of the sale, the chief executive officer now directly owns 889,242 shares of the company’s stock, valued at approximately $73,762,623.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James Robert Anderson sold 40,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $82.95, for a total transaction of $3,318,000.00. Following the sale, the chief executive officer now owns 889,242 shares of the company’s stock, valued at $73,762,623.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark Jon Nelson sold 19,574 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $90.76, for a total value of $1,776,536.24. Following the sale, the senior vice president now directly owns 32,737 shares in the company, valued at approximately $2,971,210.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,249 shares of company stock valued at $10,277,346. 1.80% of the stock is owned by company insiders.
About Lattice Semiconductor
Lattice Semiconductor Corp. designs, develops, and markets programmable logic products and related software. The company was founded in 1983 and is headquartered in Hillsboro, OR.
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