Jefferies Initiates Coverage On Lattice Semiconductor With Hold Rating

According to Jefferies, Lattice Semiconductor LSCC coverage is initiated with a Hold rating. Jefferies said that it is initiating coverage of Lattice Semiconductor (LSCC) with a Hold Rating and a $7.00 Price Target. “LSCC has traded at NTM P/Es in the range of 8x to 16x over the last three years, and is currently trading at a P/E of ~13x, in line with its normalized P/E multiple of ~12-13x. Our $7 PT assumes a P/E of 13x applied to our 2012 EPS estimate of $0.54.” Lattice Semiconductor closed yesterday at $6.08.