Analyst Quinn Bolton of Needham maintained a Buy rating on Lattice Semiconductor (LSCC – Research Report), retaining the price target of $70.00.
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Quinn Bolton has given his Buy rating due to a combination of factors that point to Lattice Semiconductor’s promising outlook. Lattice Semiconductor reported strong financial results, outperforming expectations, even as its industry peers in the Industrial and Automotive sectors issued more conservative projections. Several secular tailwinds in the field of FPGA contribute to this positive evaluation, with Lattice being uniquely positioned as the only product-ready company in the realm of PQC.
Additional factors influencing the Buy rating include an improvement in order rates, with the business-to-business segment showing an increase above a 1:1 ratio in recent weeks. Management remains optimistic about achieving their channel inventory target by mid-year. Furthermore, the revenue contribution from Avant and Nexus products has grown significantly, and operational expenses are expected to decline slightly year-over-year despite strategic headcount expansion in cost-effective regions like India. The appointment of a new CFO, who brings experience from Intel Foundry and Xilinx, also supports the confidence in Lattice Semiconductor’s future performance.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $75.00 price target.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LSCC in relation to earlier this year.