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

Lattice Semiconductor Co. (NASDAQ:LSCC - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $51.31, but opened at $49.06. Lattice Semiconductor shares last traded at $50.60, with a volume of 142,433 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LSCC shares. Stifel Nicolaus raised Lattice Semiconductor from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Tuesday, September 17th. Susquehanna decreased their target price on Lattice Semiconductor from $85.00 to $65.00 and set a "positive" rating on the stock in a research note on Tuesday, July 30th. Rosenblatt Securities reissued a "buy" rating and set a $85.00 target price on shares of Lattice Semiconductor in a research note on Tuesday, July 30th. Bank of America downgraded Lattice Semiconductor from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $83.00 to $47.00 in a research note on Tuesday, July 30th. Finally, KeyCorp reduced their price objective on Lattice Semiconductor from $85.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.08.

Lattice Semiconductor Trading Up 1.5 %

The stock has a market cap of $7.17 billion, a P/E ratio of 38.29 and a beta of 1.39. The company has a 50-day moving average price of $48.25 and a two-hundred day moving average price of $60.28.

Lattice Semiconductor (NASDAQ:LSCC - Get Free Report) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $124.08 million for the quarter, compared to the consensus estimate of $130.17 million. Lattice Semiconductor had a net margin of 30.26% and a return on equity of 23.39%. The business's revenue for the quarter was down 34.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. As a group, equities analysts forecast that Lattice Semiconductor Co. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at Lattice Semiconductor

In related news, SVP Mark Jon Nelson sold 1,232 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $48.98, for a total transaction of $60,343.36. Following the completion of the transaction, the senior vice president now owns 14,919 shares in the company, valued at $730,732.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Mark Jon Nelson sold 1,232 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $48.98, for a total transaction of $60,343.36. Following the completion of the transaction, the senior vice president now owns 14,919 shares in the company, valued at $730,732.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sherri R. Luther sold 20,632 shares of the company's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $48.89, for a total value of $1,008,698.48. Following the completion of the sale, the chief financial officer now owns 90,341 shares of the company's stock, valued at $4,416,771.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lattice Semiconductor

Several hedge funds have recently made changes to their positions in LSCC. Rokos Capital Management LLP lifted its holdings 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 worth $94,896,000 after buying an additional 1,141,230 shares during the period. William Blair Investment Management LLC raised 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 worth $195,179,000 after acquiring an additional 1,098,962 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Lattice Semiconductor by 1,720.0% in the 4th quarter. Wellington Management Group LLP now owns 511,794 shares of the semiconductor company's stock worth $35,309,000 after acquiring an additional 483,673 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lattice Semiconductor by 63.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,094,289 shares of the semiconductor company's stock worth $63,456,000 after acquiring an additional 426,511 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Lattice Semiconductor by 19.3% in the 2nd quarter. Clearbridge Investments LLC now owns 1,822,190 shares of the semiconductor company's stock worth $105,669,000 after acquiring an additional 294,290 shares in the last quarter. 98.08% of the stock is currently owned by hedge funds and other institutional investors.

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.