Rosenblatt Securities has raised its price target on Lattice Semiconductor to $105.00 while keeping a Buy rating on the stock. The new target implies roughly a 15% upside from Lattice's most recent trading price of $90.95, and comes as the share price sits near its 52-week high of $91.46.
The brokerage's upgrade rests on what it describes as stronger-than-expected revenue performance, driven in large part by demand from data centers and from physical artificial intelligence applications. Rosenblatt expects growth to accelerate in the first quarter of 2026 despite the company having experienced a 12% revenue decline over the past twelve months.
Rosenblatt's research note underscores a shift in the end markets for Lattice's field-programmable gate arrays - commonly known as FPGAs - pointing to rising permanent adoption across servers, communications equipment, industrial systems, automotive applications and consumer devices. The firm characterizes Lattice as "hitting on all cylinders" and stresses that power efficiency and device flexibility are becoming increasingly important as product introduction cycles pick up across industries.
In the research note Rosenblatt also outlines the functional role Lattice's FPGAs play alongside main processors. The chips act as companion devices, handling tasks such as power sequencing, security, switching and motor control, functions the firm deems essential across the range of end markets it highlighted.
Market returns underscore recent momentum in the equity: data cited by InvestingPro show the stock has returned 50.13% over the past six months. Rosenblatt's upgraded target and bullish commentary align with that performance, while also looking ahead to potential accelerated growth in early 2026.
Separately, Lattice reported its fourth-quarter 2025 financial results showing a 24.2% year-over-year revenue increase for the quarter. The company posted earnings per share of $0.32, which met analysts' expectations, and reported quarterly revenue of $145.8 million, a figure that modestly exceeded a consensus forecast of $143.18 million.
Despite the quarter's earnings and revenue beating expectations, the stock declined in aftermarket trading following the release. Rosenblatt's upgrade and the company's reported results together present a mixed near-term picture: an improving quarterly performance and optimistic forward commentary from an analyst, set against intra-year revenue weakness and a post-earnings share price dip.
Analysts and investors are continuing to monitor Lattice's developments closely, weighing the firm's recent quarter and Rosenblatt's outlook against the company's longer-term revenue trends and the evolving demand environment across data centers, AI hardware and multiple industrial end markets.