Lattice Semiconductor price target lowered to $75 from $90 at DA Davidson

DA Davidson lowered the firm’s price target on Lattice Semiconductor to $75 from $90 but keeps a Buy rating on the shares. The company’s Q4 outlook was not what the firm was “looking for” as the weak macro environment has finally caught up and overcame Lattice Semiconductor’s strong, new-product story, the analyst tells investors in a research note. DA Davidson adds that its estimates are coming down meaningfully, and the firm expects concerns about the potential for further estimate cuts to overhang on the stock until the company can restore sequential growth driven by new products.