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.
Acquisition deal in brief:
When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.
Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored
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.
Read More
- Looking For The Best Stocks To Buy For 2021? 3 Electric Vehicle Stocks To Watch
- Top 3 Cosmetics Stocks in the market
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.