Lattice Semiconductor: Benchmark Reiterates Buy, Raises PT to $60

Lattice Semiconductor: Benchmark Reiterates Buy, Raises PT to $60

Lattice Semiconductor Corporation (NASDAQ: LSCC) has received a positive update from financial analysts, with Benchmark Securities reiterating its Buy rating and raising its price target to $60. The stock has shown resilience despite recent market volatility and is expected to benefit from ongoing growth in the semiconductor industry.

Benchmark Securities, in a recent report, highlighted Lattice Semiconductor's strong market position and robust product portfolio. The company specializes in field programmable gate arrays (FPGAs) and offers a range of products including the Lattice Certus and ECP, Mach, iCE, and CrossLink families. These products cater to a variety of markets, including communications and computing, consumer, industrial, and automotive sectors.

The analysts noted that Lattice Semiconductor's strong earnings growth projections, expected to be 67.69% in the coming year, are a significant driver for their optimistic outlook. The company reported earnings of $0.22 per share for the latest quarter, meeting analysts' expectations despite a 14.7% decline in revenue compared to the same period last year.

Benchmark Securities also cited the company's strong balance sheet and high institutional ownership as positive indicators. Currently, 98.08% of Lattice Semiconductor's stock is held by institutions, which can be a signal of strong market trust. The company's insider trading data shows that insiders have sold more stock than they have bought in the past three months, which could indicate a lack of confidence in the short term.

The stock has seen a decrease in short interest, with 8.82% of the float sold short, indicating improving investor sentiment. However, the short interest ratio ("days to cover") of 4.9 suggests that it may take around five days to cover all the short positions, which could indicate potential upside pressure if the stock were to rally.

Overall, the positive analyst rating and price target increase from Benchmark Securities provide a boost to investor confidence in Lattice Semiconductor. The company's strong market position, robust product portfolio, and expected earnings growth make it an attractive investment opportunity in the semiconductor sector.

References:
[1] https://www.marketbeat.com/stocks/NASDAQ/LSCC/