Matt Ramsay, an analyst from TD Cowen, maintained the Buy rating on Lattice Semiconductor (LSCC – Research Report). The associated price target is $80.00.
Matt Ramsay has given a Buy rating to Lattice Semiconductor based on a combination of factors that suggest positive developments in the medium to long term, despite near-term headwinds. The recent fourth-quarter results and first-half outlook for 2024, while below expectations, have been viewed as a necessary reset by positively-biased investors. This reset is anticipated to pave the way for resumed growth in Lattice’s Nexus/Avant products, with AI-related revenue estimated at approximately $100 million in 2023, and expectations to double in the medium term.
Ramsay’s recommendation takes into account that while the current market conditions have led to a broad inventory digestion impacting short-term performance, Lattice’s management strategies in maintaining gross margins and managing operating expenses are seen as prudent. Furthermore, there is optimism for the second half of 2024, where product cycles, customer inventory normalization, and market share gains are expected to drive growth. The ramp-up of Nexus and Avant products, combined with a significant total addressable market (TAM) expansion, higher average selling prices (ASPs), and a robust partnership ecosystem, underpin the positive outlook for Lattice Semiconductor’s performance in the coming years.
In another report released today, Deutsche Bank also maintained a Buy rating on the stock with a $75.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Lattice Semiconductor (LSCC) Company Description:
Lattice Semiconductor Corp. designs, develops and markets programmable logic products and related software. The company includes semiconductor devices, evaluation boards, development hardware, and related intellectual property licensing, services, and sales. It provides smart connectivity solutions powered by its low power FPGA, video ASSP, millimeter wave, and IP products to the consumer, communications, industrial, computing, and automotive markets. The company was founded in 1983 by Samir Palnitkar and is headquartered in Hillsboro, OR.
Read More on LSCC:
- Options Volatility and Implied Earnings Moves Today, February 12, 2024
- Is LSCC a Buy, Before Earnings?
- Lattice Semiconductor price target raised to $80 from $75 at Susquehanna
- Lattice Semiconductor price target raised to $95 from $70 at Benchmark
- Lattice Semiconductor price target raised to $75 from $72 at BofA
