Principal Financial Group Inc. Decreases Stake in Lattice Semiconductor Co. (NASDAQ:LSCC)

Principal Financial Group Inc. cut its stake in Lattice Semiconductor Co. (NASDAQ:LSCC) by 32.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,439 shares of the semiconductor company’s stock after selling 152,542 shares during the period. Principal Financial Group Inc.’s holdings in Lattice Semiconductor were worth $17,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of LSCC. Harbor Capital Advisors Inc. lifted its position in Lattice Semiconductor by 323.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 61,234 shares of the semiconductor company’s stock worth $3,250,000 after acquiring an additional 46,768 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Lattice Semiconductor by 9.9% during the third quarter. Janney Montgomery Scott LLC now owns 202,474 shares of the semiconductor company’s stock worth $10,745,000 after purchasing an additional 18,320 shares during the period. New York State Common Retirement Fund boosted its position in Lattice Semiconductor by 0.8% in the third quarter. New York State Common Retirement Fund now owns 752,389 shares of the semiconductor company’s stock valued at $39,929,000 after buying an additional 6,105 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in Lattice Semiconductor by 22.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 780,271 shares of the semiconductor company’s stock worth $41,409,000 after buying an additional 142,005 shares during the period. Finally, Financial Advocates Investment Management raised its position in Lattice Semiconductor by 7.4% during the 3rd quarter. Financial Advocates Investment Management now owns 5,706 shares of the semiconductor company’s stock worth $303,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 98.08% of the company’s stock.

Lattice Semiconductor Price Performance

Shares of LSCC stock opened at $50.63 on Friday. Lattice Semiconductor Co. has a 1-year low of $40.65 and a 1-year high of $85.69. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 49.06 and a beta of 1.39. The stock has a 50 day simple moving average of $51.14 and a 200-day simple moving average of $56.53.

Lattice Semiconductor (NASDAQ:LSCC) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Lattice Semiconductor had a net margin of 25.48% and a return on equity of 16.84%. The company had revenue of $127.09 million during the quarter, compared to analysts’ expectations of $127.05 million. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was down 33.9% on a year-over-year basis. Analysts anticipate that Lattice Semiconductor Co. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America downgraded shares of Lattice Semiconductor from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $83.00 to $47.00 in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lattice Semiconductor from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Susquehanna reduced their price objective on Lattice Semiconductor from $65.00 to $55.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Lattice Semiconductor in a report on Monday, November 4th. Finally, KeyCorp dropped their target price on Lattice Semiconductor from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.42.

Insider Activity at Lattice Semiconductor

In related news, SVP Mark Jon Nelson sold 1,232 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $48.98, for a total value of $60,343.36. Following the completion of the transaction, the senior vice president now directly owns 14,919 shares of the company’s stock, valued at approximately $730,732.62. This represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sherri R. Luther sold 20,632 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $48.89, for a total value of $1,008,698.48. Following the completion of the transaction, the chief financial officer now owns 90,341 shares in the company, valued at $4,416,771.49. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Lattice Semiconductor Profile

Lattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the Lattice Certus and ECP, Mach, iCE, and CrossLink. It also provides video connectivity application specific standard products.