KeyBanc analyst John Vinh raised the firm’s price target on Lattice Semiconductor to $85 from $80 and keeps an Overweight rating on the shares. The firm notes the company reported Q4 results that missed and guided Q1 lower. Results reflect weakening demand in Comms Infra, which is broadening out into Industrials and Automotive in Q1. Additionally, the correction is expected to persist into Q2, with revenues expected to be flat quarter-over-quarter, while a second half of 2024 recovery is expected as end-customer inventories normalize and new products in Nexus and Avant ramp more meaningfully, KeyBanc adds.
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