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By Sam Boughedda
Lattice Semiconductor Company (NASDAQ:) was upgraded from Impartial to Optimistic by Susquehanna analyst Christopher Rolland on Tuesday.
The analyst, who additionally raised the agency’s value goal on Lattice from $58 to $65, stated that with the corporate’s shares down -35% for the year-to-date, they’re utilizing any macro weak point to selectively improve its third semiconductor firm this yr.
“Whereas we downgraded shares of LSCC final April, each income outperformance and margin growth have considerably bested our expectations, permitting share to develop into an inexpensive valuation,” wrote Rolland.
“Wanting ahead, we consider the expansion and margin story ought to proceed to upside, helped by the corporate’s long-term product roadmap and the upcoming midrange Avant product launch,” he added.
Rolland said that the corporate’s new midrange product Avant is a “potential game-changer” and can double their addressable market to $6 billion.
Different components which influenced the analyst’s score change included latest insider shopping for from Chief Technique and Advertising and marketing Officer Esam Elashmawi, and Lattice‘s steadiness sheet being “pristine into a possible downturn.”
Lattice inventory is down 2.5% in early buying and selling Tuesday.
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