Why Lattice Semiconductor Shares Are Diving Today

Zinger Key Points
  • Lattice Semiconductor CEO Jim Anderson steps down; Esam Elashmawi appointed interim CEO.
  • Lattice shares are down 14.95% at $63.14 at the last check Monday.

Lattice Semiconductor Corporation LSCC shares are trading lower after the company announced that Jim Anderson decided to step down as president, CEO, and board member.

The company announced the appointment of Esam Elashmawi, chief marketing and strategy officer, as Interim Chief Executive Officer, effective immediately.

The board started a search process to identify a permanent CEO and will consider internal and external candidates as part of its search.

Jeff Richardson, chair of Lattice’s board said, “Over the last six years, Esam has played a critical role in Lattice’s transformation. I am confident that Esam and our talented executive team will ensure a smooth transition for all our stakeholders.”

“With clear strategic priorities in place, and significant opportunity for growth and value creation, the Board is confident the Company is well positioned to build upon its track record of delivering outstanding results.”

In April, Lattice Semiconductor reported a 17% Y/Y revenue decline in the first quarter

Investors can gain exposure to the stock via Themes Generative Artificial Intelligence ETF WISE and Global X Internet Of Things ETF SNSR.

Price Action: LSCC shares are down 14.95% at $63.14 at the last check Monday.

Now Read: These Analysts Boost Their Forecasts On Lattice Semiconductor Following Q1 Earnings

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EquitiesMid CapNewsManagementMoversBriefsStories That Matterwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!