© Reuters. Lattice Semiconductor Upgraded By Susquehanna On ‘Perfect Roadmap’
By Sam Boughedda
Lattice Semiconductor Corporation (NASDAQ:) was upgraded from Neutral to Positive by Susquehanna analyst Christopher Rolland on Tuesday.
The analyst, who also raised the firm’s price target on Lattice from $58 to $65, said that with the company’s shares down -35% for the year-to-date, they are using any macro weakness to selectively upgrade its third semiconductor company this year.
“While we downgraded shares of LSCC last April, both revenue outperformance and margin expansion have significantly bested our expectations, allowing share to grow into a reasonable valuation,” wrote Rolland.
“Looking forward, we believe the growth and margin story should continue to upside, helped by the company’s long-term product roadmap and the upcoming midrange Avant product launch,” he added.
Rolland stated that the company’s new midrange product Avant is a “potential game-changer” and will double their addressable market to $6 billion.
Other factors which influenced the analyst’s rating change included recent insider buying from Chief Strategy and Marketing Officer Esam Elashmawi, and Lattice’s balance sheet being “pristine into a potential downturn.”
Lattice stock is down 2.5% in early trading Tuesday.
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