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LSCC - Lattice Semiconductor: Great Asset Priced For Perfection
Lattice Semiconductor Corporation
2024-02-18 07:40:53 ET
Summary
Lattice Semiconductor is leading the low-power programmable chips market and is increasing its addressable market by moving upward in the value chain.
The firm fully deleveraged its balance sheet and can now increase its cash distribution.
While it is outgrowing the FPGA market, its valuation seems too expensive to me. My DCF model indicates it is difficult to justify near-term upside potential.
Despite experiencing a cyclical correction on its end markets, the stock is bouncing back sharply from recent lows. This makes me skeptical.
I prefer to wait for a better entry point. I rate the stock as a HOLD.