Lattice Semiconductor: We’re not for sale
Portland-based Lattice Semiconductor saw a spike in share activity today after a Reuters story quoting company CEO Darin Billberbeck that the company would be open to a sale.
The stock, which opened today at $6.33 a share jumped to a high of $6.84, up 8 percent, before settling back down around $6.53 at around 12:45 p.m.
However, the company has no plan or interest in selling right now, said Lattice Chief of Staff Gloria Zabel.
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The comment from Billerbeck she said is the standard response by any public company with regard to a potential buyer. The company has a fiduciary interest to shareholders to consider any offer and take it to the board.
Here’s what Billerbeck told Reuters: “If someone walks in the door and gives us a solid offer at a high premium we are going to consider it.”
Lattice is in the same general business as chipmaker Altera, which this week was scooped up by Intel in a $16.7 billion deal. Like Altera, Lattice makes field-programmable gate array chips, which can be programmed after manufacturing, making these products more flexible for customers. However, unlike Altera, Lattice focuses on chips for the lower end of the market that are lower margin than Altera’s high-performance product.