NEW YORK (TheStreet) -- Shares of Lattice Semiconductor (LSCC) were surging 20.88% to $7.70 on heavy trading volume early Thursday morning after agreeing to be purchased by private-equity buyout firm Canyon Bridge Capital Partners for $1.3 billion including debt.
The offer of $8.30 per share in cash represents a 30% premium to Lattice Semiconductor's Wednesday closing price of $6.37.
The transaction is expected to close in early 2017.
Lattice Semiconductor is a Portland-based maker of programmable chips.
About 10.36 million shares of Lattice have been traded so far today, well above the company's average trading volume of roughly 1.44 million shares a day.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Lattice Semiconductor's strengths such as its solid stock price performance, increase in net income and good cash flow from operations are countered by weaknesses including disappointing return on equity and generally higher debt management risk.
You can view the full analysis from the report here: LSCC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.