Lattice Semiconductor Corporation LSCC was a big mover last session with its shares rising roughly 8% on the day. The upside was reportedly a result of Intel INTC completing its $16.7 billion acquisition of chip maker Altera on Dec 28. According to CEO Darin Billerbeck, the acquisition will allow Lattice to grasp a larger portion of the ARM-based market, boosting its total addressable market by $300 million to $400 million. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past month’s volatile price range of $5.79 to $6.29.
This developer of programmable logic products and related software has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
Lattice currently has a Zacks Rank #3 (Hold) and its Earnings ESP is 0.00%.
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