Lattice Semiconductor (LSCC) PT Lowered to $67 at Stifel, 'see upside catalysts as limited'

Stifel analyst Ruben Roy lowered the price target on Lattice Semiconductor (NASDAQ: LSCC) to $67.00 (from $70.00) while maintaining a Hold rating.

The analyst commented: "LSCC reported Q4 earnings below our/consensus estimates due to ongoing industry headwinds that are impacting its near-to-medium term operating environment, and the company sees demand weakness extending through the first half of 2024 as customers normalize their inventory levels. Despite the near-term setback, LSCC continues to believe that its longer-term CAGR assumptions are intact given new product ramps and higher dollars of content for new-gen AI optimized servers, along with AI PCs. We continue to view management execution positively as
LSCC maintains a strong balance sheet with no outstanding debt, and a healthy free cash flow margin. For now, though, we see upside catalysts as limited ahead of better visibility into the slope of revenue recovery."

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