LSCC's run over the last year is wild. Just looking back, this thing more than doubled from under 70 last fall to over 135 now, and the spike from 110 in April to 147 by late May was just ridiculous. It's cooled off a bit but that sort of ramp is not exactly normal for a mid cap chip stock. Makes you wonder if we're getting over our skis or if there's more left in the tank.

I'm bullish here, but with some caution baked in. Lattice keeps crushing it in low power programmable chips, and demand in industrial and automotive is pretty sticky. Their gross margins are best in class for this segment, and they're not nearly as exposed to the consumer cycle as most. Add in the fact that they're moving up market with new product cycles and you can kind of see why people have been chasing this name all year.

Short term, I'd target 158.00. That's not moonshot territory, just a measured leg higher from here as I think the next couple of quarters could see more guide ups if design wins keep rolling in. That said, valuation is stretched now LSCC is trading like it's going to double again in a year, which is pretty optimistic. If there's an earnings miss or a sign customers are digesting inventory, this thing could snap back hard. So I'm not going all in at these levels, but I'm holding and maybe adding on any pullback.

The main thing to watch: their next earnings call. If management gives color on accelerating orders or bigger contracts in auto/industrial, I think the market rewards them. If not, this could go sideways for a while. Either way, lots of eyes on this name now.