Lattice Semiconductor Stock Surges Amid Wave Of Price Target Hikes: Retail Sentiment Soars

Shares of Lattice Semiconductor Corp. (LSCC) soared nearly 9% in mid-day trade on Tuesday amid a flurry of price target hikes from brokerages, citing the chipmaker’s slightly-above-consensus guidance and improved bookings.

According to TheFly, several brokerages, including Bank of America (BofA) Securities, Stifel, TD Cowen, and KeyBanc, raised their price targets for Lattice Semiconductor stock.

LSCC posted its fourth-quarter (Q4) earnings on Monday, reporting earnings per share (EPS) of $0.15, slightly below Wall Street expectations of $0.19, according to Stocktwits data.

The chipmaker edged past revenue expectations – its net sales stood at $117.42 per million, compared to an estimate of $117.09 million.

Analysts at BofA said that they expect LSCC to outperform the broader market during the first quarter (Q1) but tempered the company’s growth estimates to 19%, as compared to management expectations of 25%.

Broadly, the aforementioned brokerages agree that LSCC is turning a corner in terms of growth. 

Management’s commentary during the fourth quarter was also optimistic, with analysts at Stifel calling it “a better outcome than feared given recent industry peer results and commentary.”

According to FinChat data, LSCC stock is already hovering around the consensus price target of $58.73.

Retail sentiment on Stocktwits around the LSCC stock soared, hovering in the ‘extremely bullish’ (89/100) territory, while message volumes were at ‘extremely high’ levels during mid-day trade on Tuesday.

One user thinks LSCC had a good fourth quarter.

LSCC’s share price has gained nearly 28% over the past six months.

However, its one-year returns are in the negative, with a decline of over 17%.

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