Artisan Mid Cap Fund on Lattice Semiconductor Corporation

Lattice Semiconductor is a fabless leader in low-power field-programmable gate arrays. FPGA revenue grew 62% year over year, supported by strong demand across data centers, communications and industrial markets. The AMI acquisition expands Lattice's data-center capabilities and broadens its addressable market, with scope to increase product content as AI infrastructure becomes more complex. The fund believes the acquisition will accelerate the company's profit cycle and added to the position following the recent pullback.