08:05 AM EDT, 04/30/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $76 on 47.5x our 2025 EPS view, above peers but within the range of its 10-year historical forward average to reflect bottoming fundamentals. We lower our 2024 EPS view to $1.19 from $1.31 and 2025's to $1.60 from $1.80. LSCC posts Q1 EPS of $0.29 vs. $0.51, beating the $0.28 consensus. Sales fell 24%, near expectations, hurt by declines across the industrial/automotive and communications/computing. Guidance was below our view as LSCC works down inventories amid a cyclical correction that we think bottoms in Q2. Our improving 2H view is supported by seasonality, improving customer inventories, and planned Nexus/Avant product ramps. Gross margin compressed 130 basis points to 69%, on less favorable end-market mix. We like content growth opportunities attached to next generation servers as well as LSCC's expansion of product offerings at smaller and mid-sized FPGAs, which in some cases will come at higher price points. We note net cash of $107M with absence of debt.