Needham has raised its price target for Lattice Semiconductor (NASDAQ:LSCC) to $110.00 from $90.00 while maintaining a Buy rating on the shares.
The new target implies roughly a 21% upside from the stock's then-current trading level of $90.95, with the share price already trading close to a 52-week high of $91.46.
Needham pointed to Lattice's fourth-quarter 2025 performance, where revenue exceeded expectations and the company provided guidance for the first quarter of 2026 that beat the firm's forecasts for both revenue and non-GAAP earnings per share. InvestingPro data referenced by the research house indicates Lattice is forecast to be profitable this year, with an EPS projection of $1.06 for fiscal year 2025.
On the back of these results, Needham raised its calendar year 2026 revenue growth estimate to 32% year-over-year from a prior projection of 22%. The firm attributed the change to strengthening demand and what it described as normalized inventory levels, which together have increased confidence in the company's forward outlook.
Needham emphasized continued strength in servers, forecasting growth in both attach rates and average selling prices in 2026. The research note also highlighted emerging end-market opportunities for Lattice in humanoid robots, Aerospace & Defense, and robotaxis.
The analyst's new price target is built on a valuation multiple of 45 times price-to-earnings applied to its calendar year 2028 non-GAAP earnings-per-share estimate. Needham additionally noted that recent lengthening of lead times appears to reflect supply tightness rather than double ordering, a distinction it sees as supportive of sustained demand.
Separately, Lattice Semiconductor reported fourth-quarter 2025 results showing revenue up 24.2% year-over-year. The company delivered EPS in line with expectations at $0.32, while revenue came in at $145.8 million versus consensus expectations of $143.18 million.
Rosenblatt Securities also adjusted its view on the company, raising its price target to $105 and maintaining a Buy rating. Rosenblatt cited stronger-than-expected revenue driven by demand from data centers and physical AI applications, and it expects accelerated growth for Lattice in the first quarter of 2026.
Taken together, the analyst actions and the reported results underscore why market observers are revising near-term expectations for Lattice, with particular attention on server demand and nascent applications in robotics and defense markets.