Lattice Semiconductor (NASDAQ:LSCC) Hits New 52-Week Low After Earnings Miss

Lattice Semiconductor Co. (NASDAQ:LSCC)’s share price reached a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $47.58 and last traded at $49.53, with a volume of 1897387 shares traded. The stock had previously closed at $54.96.

The semiconductor company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $124.08 million for the quarter, compared to analyst estimates of $130.17 million. Lattice Semiconductor had a net margin of 31.42% and a return on equity of 28.61%. The firm’s revenue for the quarter was down 34.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Needham & Company LLC reduced their target price on Lattice Semiconductor from $80.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $85.00 target price on shares of Lattice Semiconductor in a report on Thursday, July 18th. Bank of America downgraded Lattice Semiconductor from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $83.00 to $47.00 in a report on Tuesday. Robert W. Baird boosted their target price on Lattice Semiconductor from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Finally, StockNews.com raised Lattice Semiconductor from a “sell” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Lattice Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.09.

Insider Buying and Selling

In related news, SVP Mark Jon Nelson sold 1,210 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $72.97, for a total value of $88,293.70. Following the completion of the transaction, the senior vice president now owns 14,554 shares in the company, valued at approximately $1,062,005.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lattice Semiconductor news, CEO James Robert Anderson sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $75.12, for a total transaction of $2,253,600.00. Following the completion of the sale, the chief executive officer now owns 759,286 shares in the company, valued at approximately $57,037,564.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Jon Nelson sold 1,210 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $72.97, for a total transaction of $88,293.70. Following the sale, the senior vice president now owns 14,554 shares of the company’s stock, valued at approximately $1,062,005.38. The disclosure for this sale can be found here. Insiders sold 49,566 shares of company stock worth $3,664,529 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Trading of Lattice Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in LSCC. Franklin Resources Inc. raised its position in shares of Lattice Semiconductor by 43.5% during the 4th quarter. Franklin Resources Inc. now owns 6,236,871 shares of the semiconductor company’s stock valued at $430,282,000 after acquiring an additional 1,889,110 shares during the last quarter. Norges Bank bought a new stake in shares of Lattice Semiconductor in the 4th quarter valued at $98,684,000. Rokos Capital Management LLP increased its position in shares of Lattice Semiconductor by 1,592.8% in the 1st quarter. Rokos Capital Management LLP now owns 1,212,878 shares of the semiconductor company’s stock valued at $94,896,000 after buying an additional 1,141,230 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Lattice Semiconductor by 78.7% in the 1st quarter. William Blair Investment Management LLC now owns 2,494,932 shares of the semiconductor company’s stock valued at $195,179,000 after buying an additional 1,098,962 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Lattice Semiconductor by 6.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 9,544,835 shares of the semiconductor company’s stock valued at $658,498,000 after buying an additional 611,550 shares in the last quarter. Institutional investors own 98.08% of the company’s stock.

Lattice Semiconductor Stock Performance

The stock’s 50-day moving average is $62.41 and its 200 day moving average is $68.87. The firm has a market cap of $6.81 billion, a P/E ratio of 31.29, a PEG ratio of 11.98 and a beta of 1.39.

About Lattice Semiconductor

Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the Lattice Certus and ECP, Mach, iCE, and CrossLink. It also provides video connectivity application specific standard products.