Lattice Semiconductor (LSCC) PT Raised to $40 but Valuation Keeps Craig-Hallum At Hold
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Craig-Hallum analyst Richard Shannon raised the price target on Lattice Semiconductor (NASDAQ: LSCC) to $40.00 (from $31.00) but reiterated the Hold rating due to the 60x C21 EV/EPS multiple.
The analyst stated "LSCC delivered a solid beat and raise to finish a year that was made difficult by COVID, and we see considerable opportunities for growth from Computing and Industrial, both in sales and GM. In particular, we see good growth from Computing, driven by higher attach rates in server and client segments that could provide years of tailwinds. While GM are likely to continue to inch higher through mix and improved product portfolio, opex spend is clearly at a bottom, which limits leverage. Additionally, we continue to fail to see the valuation the market seems to be willing to award the company – it is trading at richer multiples than NVDA or AMD, which have large platform effects and $100B+ TAMs to grow into".
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