Lattice Takes a Leap
Growth Stock Strategist holding Lattice Semiconductor leapt 18% today and was up as much as 20% mid-day on the news that China’s Tsinghua Unigroup acquired a 6% stake in the company.
In a regulatory filing Tsinghua described the position as being for “investment purposes,” but added that it may also enter into discussions with management about a “possible commercial agreement.”
Back in February Reuters had reported that an unidentified Chinese buyer had been interested in Lattice.
Tsinghua had moved along with plans to possibly acquire both Micron and Western Digital last year but abandoned both after the U.S. Committee on Foreign Investment announced they were reviewing the deals. This committee analyzes foreign deals to determine if there is potential for national security concerns.
While size is not the only factor scrutinized by this committee, Lattice, with a market cap of just $757 million, is a pipsqueak compared to Micron’s $11 billion cap and Western Digital’s $10 billion cap.
I’ll keep you posted as news develops on this name.