Stifel Upgrades Lattice Semiconductor (LSCC) to Buy

Stifel analyst Ruben Roy upgraded Lattice Semiconductor (NASDAQ: LSCC) from Hold to Buy with a price target of $55.00.

The analyst comments: "LSCC announced the appointment of Dr. Ford Tamer as CEO and to the company's Board, effective immediately. Dr. Tamer will be replacing interim CEO Esam Elashmawi, who will continue to serve as LSCC's Chief Strategy and Marketing Officer, a position that Mr. Elashmawi had held since 2018 and continued while serving as interim CEO. Given extensive industry experience and an impressive track record of working with and building successful semiconductor/components businesses, we view Dr. Tamer's appointment positively. Separately, LSCC reaffirmed its 3Q guidance, which calls for modest sequential revenue growth following three quarters of double-digit q/q declines. We expect modest sequential growth to continue into the December quarter. With what looks to be the worst of the current downturn behind us and with recent share price underperformance appearing to reflect reset expectations."

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 $50.31 yesterday.

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