Lattice Semiconductor Stock Set for New Highs After Earnings

Lattice Semiconductor beat on both the top and bottom lines

Jul 31, 2019 at 9:27 AM
facebook X logo linkedin


Lattice Semiconductor Corp (NASDAQ:LSCC) stock is up 12.3% in electronic trading, after the programmable logic device maker reported second-quarter adjusted earnings of 15 cents per share on $102.30 million in revenue. This was more than the consensus estimates of 11 cents per share in earnings and $99.72 million in revenue, and bullish analysts have been quick to chime in.

In fact, six brokerages have already boosted their LSCC price targets, with Cowen and Company and Rosenblatt Securities setting the highest bar at $21 -- a nearly 28% premium to last night's close at $16.41. Analysts are already upbeat on LSCC, with all five in coverage maintaining a "buy" or better rating; however, more price-target hikes could come down the pike, considering the 12-month consensus target sits at $17.86.

Today's earnings reaction is likely to catch some short sellers off guard, though. Short interest surged 22.9% in the most recent reporting period to 6.63 million shares -- the most since late 2016. This represents a healthy 5.4% of LSCC stock's available float, or 3.6 times the average daily pace of trading. A capitulation from some of the weaker bearish hands could create bigger tailwinds for Lattice Semiconductor shares.

Looking at the charts, the chip stock has put in a strong performance over the long term, and has more than doubled in value through last night's close. LSCC shares hit a 17-year high of $17.07 on July 15, but looks set to take out this milestone today -- poised to open near the $18.15 per share region.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI