CEO Change at Lattice Semi

By Patrick Moorhead - June 12, 2024

The Six Five team discusses CEO Change at Lattice Semi

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Transcript:

Daniel Newman: The first was a surprising update that we got that our friend, regular Six Five Summit appearance. Another one that we, by the way, had to move from the summit because he was planning to be there. Jim Anderson left Lattice Semi, went over to Coherent. And he’s now the CEO over there. But more importantly, someone that we’ve gotten to know very well, Esam is now the CEO. And Esam has been on our show, gosh, probably 5, 6, 7 different times. And more importantly, I’ve raced cars with Esam. I think you were there too, right?

Not only do I think he is going to be successful in being able to drive Lattice, which has been on a very good run, they’ve been very highly evaluated for their low end to mid-market, FPGAs, the software they’re building. And they are another company that’s attached to the AI trend. But I think not only does he drive pretty fast, but he’s going to be in a good position to drive this company forward, Pat. And I think it’s a good company in a good position that was left in good hands. And while it’s sad to see Jim go, I’m really interested in seeing Esam in this leadership role. And I wonder, I know it’s interim, but I think he could be the right guy to take this forward. He’s always been a really good balance of strategy, marketing, and vision. And I’ve always really enjoyed our interactions.

Patrick Moorhead: Yeah. Hey, why don’t we move to the next topic, Lattice CEO change?

Daniel Newman: You’re just … with me.

Patrick Moorhead: I am. Just getting –

Daniel Newman: Now we got to put the little “censored” on this one, by the way. I’ve worked hard to put that into one of these. But if someone’s going to watch me totally chew and then fall into the mosh pit in the last one. God, telling you, I’m blaming it on leaving the room and not hear you –

Patrick Moorhead: Buddy, props to you, you’re a better man than I, I decided not to do it when I was in Europe. And here you are, you just came off a fricking plane. Literally just rolled in. No, no, listen-

Daniel Newman: Let’s talk about the fourth topic real quick. The US is investigating… Oh, nevermind. Come on, man, I just rambled on about a Lattice. Talk to me about-

Patrick Moorhead: Yeah, yeah, yeah. I pulled up some numbers here. And Jim Anderson, was he good for Lattice? Well, he grew revenue 1.8X. Gross margin grew 1,300 basis points. EPS grew 6X, and market cap grew 10X. I think Jim Anderson did a lot of good for Lattice Semi. And who was his wingman? It was Esam Elashmawi. And I got to tell you, I have met a lot of strategy guys and marketing guys and business guys before who couldn’t actually do the big role. But I think Esam would be a great guy.

And I am hoping, for the sake of investors, and I think even internal employees, that they do a very hard look at Esam, who is currently the person in there temporarily. The interim CEO. Jim went off to Coherent, hope to start researching that company. But yeah, big changes, man.

Daniel Newman: Another deep technical company, quantizing and clocking. And I was reading up on, not one that I’ve tracked super closely, but-

Patrick Moorhead: A little birdie told me that this company is very much engaged in ultra ethernet. And by the way, if you look at Jim Anderson’s background, he was at Broadcom, via an acquisition.

Daniel Newman: Oh, yeah. Oh, yeah. Yeah. I think both will do well. And I think we’re, in both cases, eager to watch this transition.

Patrick Moorhead

Patrick founded the firm based on his real-world world technology experiences with the understanding of what he wasn’t getting from analysts and consultants. Ten years later, Patrick is ranked #1 among technology industry analysts in terms of “power” (ARInsights)  in “press citations” (Apollo Research). Moorhead is a contributor at Forbes and frequently appears on CNBC. He is a broad-based analyst covering a wide variety of topics including the cloud, enterprise SaaS, collaboration, client computing, and semiconductors. He has 30 years of experience including 15 years of executive experience at high tech companies (NCR, AT&T, Compaq, now HP, and AMD) leading strategy, product management, product marketing, and corporate marketing, including three industry board appointments.