Lattice Semiconductor price target lowered to $75 from $85 at Loop Capital

Loop Capital lowered the firm’s price target on Lattice Semiconductor (LSCC) to $75 from $85 and keeps a Buy rating on the shares. The most incremental takeaways from the company’s Q1 results and Q2 guidance include distribution inventory of about 79% of Q1 sales that continues to drop and that the complete work-down of distribution inventory to the 3-month target may take until FY24 end vs. prior expectation of mid-FY24, the analyst tells investors in a research note.