Lattice Semiconductor (NASDAQ:LSCC) Shares Down 3.1% - Here's What Happened

Lattice Semiconductor Co. (NASDAQ:LSCC - Get Free Report) shares were down 3.1% during mid-day trading on Wednesday . The stock traded as low as $51.01 and last traded at $51.28. Approximately 2,134,434 shares traded hands during trading, a decline of 10% from the average daily volume of 2,373,985 shares. The stock had previously closed at $52.92.

Wall Street Analysts Forecast Growth

Several research firms have commented on LSCC. Benchmark upped their price target on Lattice Semiconductor from $55.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Stifel Nicolaus upped their target price on Lattice Semiconductor from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Loop Capital started coverage on shares of Lattice Semiconductor in a research note on Friday. They set a "buy" rating and a $85.00 price target on the stock. Susquehanna increased their price objective on shares of Lattice Semiconductor from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, February 11th. Finally, KeyCorp lifted their target price on shares of Lattice Semiconductor from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $67.69.

Lattice Semiconductor Stock Performance

The firm has a market capitalization of $5.45 billion, a P/E ratio of 89.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.64. The stock has a 50-day moving average of $59.29 and a 200 day moving average of $56.66.

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.14). Lattice Semiconductor had a return on equity of 11.22% and a net margin of 12.00%. On average, equities analysts predict that Lattice Semiconductor Co. will post 0.65 EPS for the current year.

Insider Buying and Selling

In other Lattice Semiconductor news, SVP Pravin Desale sold 2,890 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.29, for a total value of $197,358.10. Following the completion of the sale, the senior vice president now directly owns 93,903 shares in the company, valued at $6,412,635.87. This represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin Ann Abrams sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $63.97, for a total transaction of $639,700.00. Following the sale, the director now owns 122,538 shares in the company, valued at $7,838,755.86. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lattice Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LSCC. Pier Capital LLC boosted its position in Lattice Semiconductor by 114.7% during the third quarter. Pier Capital LLC now owns 161,505 shares of the semiconductor company's stock valued at $8,571,000 after purchasing an additional 86,276 shares during the last quarter. Stifel Financial Corp lifted its stake in Lattice Semiconductor by 99.0% during the third quarter. Stifel Financial Corp now owns 59,778 shares of the semiconductor company's stock worth $3,172,000 after purchasing an additional 29,734 shares during the last quarter. US Bancorp DE grew its holdings in shares of Lattice Semiconductor by 2.9% during the 4th quarter. US Bancorp DE now owns 28,111 shares of the semiconductor company's stock valued at $1,592,000 after purchasing an additional 800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Lattice Semiconductor by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 939,393 shares of the semiconductor company's stock worth $53,217,000 after purchasing an additional 29,516 shares in the last quarter. Finally, Compass Wealth Management LLC acquired a new position in shares of Lattice Semiconductor during the fourth quarter worth $1,324,000. 98.08% of the stock is owned by institutional investors and hedge funds.

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.