What: Lattice Semiconductor (NASDAQ:LSCC), a logic design, product, and software company, is trading 7.9% higher at the time of this writing on Tuesday. At one point during the trading day, shares we up more than 10%.
So what: There's no clear reason for the stock's move Tuesday. Though the boost does follow a series of announcements and share-price volatility throughout the last few weeks. Announcements since October 29 include:
- October 29 -- Lattice Semiconductor reported third-quarter results.
- November 2 -- The company announced a new development platform for designing communications and industrial applications.
- November 10 -- The logic company announced a new chief operating officer, which is a new position for the company. The new job represents an expanded role for a proven executive who previously served as chief marketing officer.
While shares have traded both up and down in the trading days since October 29, the stock has mostly trended upward, rising 18% during this period.
It's worth noting that stocks can sometimes make big moves even when there isn't any news. So, Tuesday's jump could simply be a function of a volatile day of trading without any underlying reason.
Now what: Lattice began a process restructuring its business during Q3, "in order to more efficiently deliver leading edge products and solutions to our core markets, while better enabling us to meet our financial goals." The restructuring mostly represented a plan to lower the company's cost structure.
Going forward, the company is going to continue its efforts to lower its cost structure. In the near-term, this may result in irregular charges that will decrease GAAP earnings, but management is confident the restructuring will benefit profitability over the long haul.