Lattice Semiconductor reaction to CEO change ‘overblown,’ says Rosenblatt

Rosenblatt notes that Lattice Semiconductor (LSCC) shares were down by over 15% following the announcement that CEO Jim Anderson would be leaving to take on the role of CEO at Coherent (COHR) and calls the Street’s reaction to the news “overblown.” The firm believes Jim Anderson is leaving on good terms and will be missed by all at Lattice, but also contends that Anderson has “effectively transformed Lattice, ensuring the company’s increased profitability, share gains, and organizational excellence for years to come.” The firm, which sees “minimal risk of disruption to the Lattice roadmap and corporate culture,” has a Buy rating and $85 price target on the shares.