Lattice Semiconductor price target raised to $75 from $70 at KeyBanc

KeyBanc raised the firm’s price target on Lattice Semiconductor (LSCC) to $75 from $70 and keeps an Overweight rating on the shares. The firm notes the company reported in-line Q4 results and guided Q1 slightly higher. Management noted that for the first time in 6 quarters, its book-to-bill ratio is greater than 1 for the past few weeks. Additionally, Lattice Semiconductor continues to ship below end-consumptions and expects its channel inventory to normalize by midyear and reaffirms expectations for low single digits growth in 2025. KeyBanc is encouraged by these results and are fine-tuning estimates.