Lattice Semiconductor Inc. LSCC The company’s shares were trading higher on Monday after the company appointed Ford Tamar as CEO and a director, effective immediately.
Tamar will succeed Essam Elachmawi, who has served as interim CEO since June 2024, and will focus on his role as chief strategy and marketing officer.
Tamer brings a wealth of experience through his roles as president and CEO of Inphi, CEO of Telegent Systems and senior vice president and general manager of Broadcom’s Infrastructure Networking Group.
Related article: Analysts slash forecasts after Lattice Semiconductor’s weak performance
Separately, the company said it was reaffirming its guidance from July 29, 2024.
Lattice now expects third-quarter 2024 revenue to be in the range of $117 million to $137 million (consensus estimate: $127.09 million) and gross margin to be 69% (plus or minus 1%).
In July, Lattice Semiconductor reported quarterly earnings of $0.23 per share on revenue of $124.1 million, below analyst expectations of $0.24 per share and $130.2 million, respectively.
Investors can get exposure to the stock through the VanEck Fabless Semiconductor ETF. SMHX and the Global X IoT ETF. SNSR.
Price Action: LSCC shares were up 13.1% at $50.67 as of last check on Monday.
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