Jefferies analyst Sundeep Bajikar reiterated a Buy rating and boosted his price target on Lattice Semiconductor (NASDAQ: LSCC) from $7 to $9.50.

Analyst Sundeep Bajikar commented, "Consistent with our thesis, LSCC's EV/S multiple doubled over the last 3 months, and is now near the low end of the range for the group. With continued strong execution, we think there is room for valuation to expand further. As competitors at the leading-edge come under increasing revenue and margin pressure due to Moore Stress, we continue to believe LSCC would be well positioned to outperform."

The firm boosted Q2 EPS from $0.06 to $0.09, FY 2014 EPS from $0.25 to $0.32 and FY 2015 EPS from $0.32 to $0.37.

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 $8.11 yesterday.