Lattice Semiconductor initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Lattice Semiconductor with a Buy rating and $70 price target. The company is offering a rare combination of above-industry revenue growth and industry-leading gross margins, the analyst tells investors in a research note. Deutsche Bank adds that Lattice Semiconductor will not be immune from cyclical headwinds impacting the broader semiconductors industry, but it also believes that the downside to fundamentals is already priced in as the stock is down 40% from its peak rather than 13% decline for its peers. The current valuation on Lattice Semiconductor is an “attractive” entry point and risk-reward on the stock “skews favorable”, the firm stated.