Lattice Semiconductor (NASDAQ:LSCC) Shares Down 3.7% – Here’s Why

Shares of Lattice Semiconductor Co. (NASDAQ:LSCC) dropped 3.7% during mid-day trading on Friday . The company traded as low as $57.23 and last traded at $57.28. Approximately 244,019 shares traded hands during trading, a decline of 85% from the average daily volume of 1,659,579 shares. The stock had previously closed at $59.50.

Wall Street Analysts Forecast Growth

LSCC has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on Lattice Semiconductor from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird upped their target price on Lattice Semiconductor from $44.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. TD Cowen cut their target price on Lattice Semiconductor from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Susquehanna upped their price target on shares of Lattice Semiconductor from $55.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Lattice Semiconductor in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Lattice Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $64.58.

Lattice Semiconductor Stock Performance

The stock has a market capitalization of $7.77 billion, a PE ratio of 54.79 and a beta of 1.41. The stock’s 50 day moving average is $57.27 and its two-hundred day moving average is $53.31.

Lattice Semiconductor (NASDAQ:LSCC) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $127.09 million during the quarter, compared to the consensus estimate of $127.05 million. Lattice Semiconductor had a net margin of 25.48% and a return on equity of 16.84%. Lattice Semiconductor’s quarterly revenue was down 33.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities research analysts expect that Lattice Semiconductor Co. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Lattice Semiconductor

In related news, SVP Pravin Desale sold 4,387 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $50.01, for a total transaction of $219,393.87. Following the completion of the transaction, the senior vice president now owns 365 shares of the company’s stock, valued at approximately $18,253.65. This trade represents a 92.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mark Jon Nelson sold 1,850 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $57.92, for a total transaction of $107,152.00. Following the transaction, the senior vice president now directly owns 14,279 shares of the company’s stock, valued at $827,039.68. The trade was a 11.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,022 shares of company stock worth $596,502. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Lattice Semiconductor

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in Lattice Semiconductor by 7.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 162,530 shares of the semiconductor company’s stock valued at $9,425,000 after buying an additional 10,701 shares during the period. Dimensional Fund Advisors LP boosted its position in Lattice Semiconductor by 63.9% in the 2nd 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. ProShare Advisors LLC boosted its position in Lattice Semiconductor by 8.9% in the 2nd quarter. ProShare Advisors LLC now owns 25,563 shares of the semiconductor company’s stock valued at $1,482,000 after buying an additional 2,080 shares during the period. EverSource Wealth Advisors LLC boosted its position in Lattice Semiconductor by 76.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,572 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 1,118 shares during the period. Finally, Bank of Montreal Can boosted its position in Lattice Semiconductor by 141.5% in the 2nd quarter. Bank of Montreal Can now owns 39,279 shares of the semiconductor company’s stock valued at $2,354,000 after buying an additional 23,016 shares during the period. Hedge funds and other institutional investors own 98.08% of the company’s stock.

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.