HILLSBORO, OR—Lattice Semiconductor Corp (NASDAQ:LSCC), a semiconductor company currently valued at $8.57 billion and trading near $62.19, has reported that Pravin Desale, the Senior Vice President of Research and Development, sold 1,096 shares of the company's common stock on December 12, 2024. The shares were sold at a weighted average price of $62.54, amounting to a total transaction value of $68,543.
The sale was conducted as part of an approved 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. Following this transaction, Desale holds 365 shares directly.
Additionally, on December 11, Desale executed a transaction involving restricted stock units (RSUs), resulting in 1,705 shares acquired at no cost. This transaction was related to the vesting of RSUs, with 609 shares retained by the issuer to cover tax obligations, valued at $63.005 per share, totaling $38,370.
These transactions are part of routine financial activities by company executives, often aimed at portfolio diversification or meeting tax obligations.
In other recent news, Lattice (OTC:LTTC) Semiconductor has seen major developments, with a focus on its financial results and analyst ratings. The company reported third-quarter earnings per share (EPS) of $0.24 and revenue of $127.1 million. However, future guidance suggests declines, primarily due to a 51% decrease in the industrial and automotive sectors. In response to these challenges, Lattice has initiated a significant reduction in its workforce and operating expenses.
Needham has raised the price target on Lattice Semiconductor shares to $70 from $56, maintaining a Buy rating. This adjustment came after Lattice Semiconductor showcased its latest hardware innovations at a Developers Conference. Financial services firm Baird also increased its price target for the company to $68, citing potential growth in the AI and security sectors.
Lattice has expanded its stock repurchase program by an additional $100 million, extending through December 2025. Other analyst firms, including KeyBanc Capital Markets, TD Cowen, and CFRA, have adjusted their price targets for Lattice Semiconductor. Despite near-term challenges, these firms maintain a long-term positive outlook for the company, emphasizing potential for revenue and EPS growth driven by market share gains and total addressable market expansion. These are the recent developments for Lattice Semiconductor.
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