After around a year of speculation and worry, Lattice Semiconductor (LSCC)
finally got resolution on the $8.30/share Canyon Bridge takeout offer,
as an executive order from President Trump blocked the deal on security
grounds after a recommendation from the Committee on Foreign Investment
in the United States. This decision wasn't exactly a surprise, as the
company had multiple go-arounds with the Committee (including two
re-filings), and the shares were down about a quarter year-to-date.
Lattice
has a lot of work to do. Guidance and context have been lacking, as
management elected not to host conference calls while the Canyon Bridge
deal was pending, but revenue and gross margins have been choppy. On the
other hand, the company's IP and capabilities in low-power programmable
logic devices (including FPGA) and app-specific standard products have
value, and the company's cost structure could offer meaningful (and
attractive) synergies for the right acquirer.
Continue here:
Lattice Semiconductor Has To Get Back To Business As Usual
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