UPDATE: Jefferies Lowers PT on Lattice Semiconductor to $6.50

Jefferies is out with its report today on Lattice Semiconductor LSCC, lowering its PT from $7 to $6.50. In its report, Jefferies writes, "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 ~12x in line with its normalized P/E multiple of ~12-13x. Our $6.50 PT assumes a P/E of 12x applied to our 2012 EPS estimate of $0.53." Jefferies maintains Hold on LSCC. Shares of LSCC closed Wednesday at $5.69.
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