Jefferies Maintains a 'Buy' on Lattice Semiconductor (LSCC); Stock Looking Cheap At Current Levels

June 15, 2012 8:48 AM EDT Send to a Friend
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Price: $7.24 --0%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 16 | New: 28
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Jefferies maintains a 'Buy' on Lattice Semiconductor (NASDAQ: LSCC) price target of $7.00 (from $8.50).

Analyst, Sundeep Bajikar, said, "We estimate a larger than expected QoQ decline in higher margin industrial products (~25% of revs) driven by Europe, is offsetting QoQ growth in comm infrastructure (45%), consumer (20%), and computing (10%) in Q2. At EV/S of 0.8x (group avg. ~2.5x) and $2/sh of cash, the stock is cheap. We are incrementally more cautious on LSCC, but believe product cycles and higher gross margins are likely to drive multiple expansion."

Bajikar lowers FY13 EPS estimate from $0.43 to $0.36 and FY14 from $0.59 to $0.52.

For an analyst ratings summary and ratings history on Lattice Semiconductor click here. For more ratings news on Lattice Semiconductor click here.

Shares of Lattice Semiconductor closed at $3.85 yesterday.




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