Shares of Lattice Semiconductor Corporation (NASDAQ:LSCC) dropped 5.3% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $6.25 and last traded at $6.39, with a volume of 1,193,290 shares. The stock had previously closed at $6.75.
The semiconductor company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.07. The firm had revenue of $94.14 million for the quarter, compared to analysts’ expectations of $105.60 million. Lattice Semiconductor Corporation had a positive return on equity of 3.95% and a negative net margin of 9.50%.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Lattice Semiconductor Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.30 target price on shares of Lattice Semiconductor Corporation in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Lattice Semiconductor Corporation has a consensus rating of “Hold” and an average price target of $8.15.
A number of large investors have recently bought and sold shares of LSCC. The Manufacturers Life Insurance Company raised its stake in Lattice Semiconductor Corporation by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 96,271 shares of the semiconductor company’s stock worth $641,000 after buying an additional 3,086 shares during the last quarter. Bluefin Trading LLC bought a new stake in Lattice Semiconductor Corporation during the second quarter worth about $176,000. Alpine Global Management LLC raised its stake in Lattice Semiconductor Corporation by 22.3% in the second quarter. Alpine Global Management LLC now owns 269,015 shares of the semiconductor company’s stock worth $1,792,000 after buying an additional 49,015 shares during the last quarter. CNH Partners LLC raised its stake in Lattice Semiconductor Corporation by 33.8% in the second quarter. CNH Partners LLC now owns 3,813,337 shares of the semiconductor company’s stock worth $25,397,000 after buying an additional 963,375 shares during the last quarter. Finally, BlueCrest Capital Management Ltd raised its stake in Lattice Semiconductor Corporation by 119.1% in the second quarter. BlueCrest Capital Management Ltd now owns 130,667 shares of the semiconductor company’s stock worth $870,000 after buying an additional 71,035 shares during the last quarter. 87.12% of the stock is currently owned by hedge funds and other institutional investors.
The company’s market cap is $715.69 million. The stock’s 50 day moving average price is $6.56 and its 200-day moving average price is $6.83.
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Lattice Semiconductor Corporation Company Profile
Lattice Semiconductor Corporation is a United States-based company, which develops semiconductor technologies that it monetizes through products, solutions and licenses. The Company operates through two segments: the core Lattice (Core) business, which includes intellectual property (IP) and semiconductor devices, and Qterics, a discrete software-as-a-service business unit in the Lattice legal entity structure.
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