Lattice Semiconductor price target lowered to $52 from $55 at Raymond James

Raymond James lowered the firm’s price target on Lattice Semiconductor (LSCC) to $52 from $55 and keeps an Outperform rating on the shares. Lattice’s Q3 was in-line with expectations, though its Q4 outlook fell well short and management announced a 14% workforce reduction, the analyst tells investors in a research note. The company’s outlook and commentary are in contrast to recent results from peers AMD (AMD) and Intel (INTC), the firm notes. Raymond James thinks Lattice will sustain double-digit growth longer term on the back of cyclical recovery, secular content gains, and new products.