Home Financial Markets Here Is Why The Silicon Labs (SLAB) Stock Was Up In Extended...

Here Is Why The Silicon Labs (SLAB) Stock Was Up In Extended Trading?

After-market, shares of Silicon Laboratories Inc. (NASDAQ: SLAB) were up 12.34% to settle at $162.5. At the end of Thursday’s regular trading, Silicon Laboratories stock was down -2.23% to close at $144.65. A total of 0.3 million shares of SLAB stock changed hands, which was almost equal to the average daily volume of 0.33 million shares over the past 50 days. Additionally, the SLAB’s market capitalization stands at $6.42 billion, with 43.89 million shares outstanding. News of SLAB’s acquisition by a semiconductor company led to a rise in SLAB stock.

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Acquisition deal in brief:

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Silicon Labs is a leading semiconductor and software provider to make the world more connected. With award-winning solutions, SLAB is shaping the future of consumer, industrial, and automotive markets that leverage the Internet of Things, Internet infrastructure, and industrial automation. SLAB’s engineering team creates products with high levels of efficiency, simplicity, and battery life.

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In a press release issued yesterday, Skyworks Solutions announced it had inked a definitive agreement with Silicon Laboratories. The deal will see Skyworks acquire the Infrastructure & Automotive business of Silicon Labs. With worth of $2.75 billion, it will be an all-cash transaction.

How it will be beneficial?

With the transaction to acquire Silicon Laboratories (SLAB) in an all-cash transaction, Skyworks expects to accelerate the path towards its target financial model and be immediately accretive. J.P. Morgan will arrange debt financing for the transaction in addition to the cash on hand available at Skyworks.

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