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News Breaks
June 26, 2014
07:11 EDTBRCMBroadcom multiple can expand, says Bernstein
Bernstein believes that Broadcom is likely to make changes to its capital allocations that can result in its multiple expanding. The firm raised its price target on the shares to $44 from $42 and keeps an Outperform rating on the stock.
News For BRCM From The Last 14 Days
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September 20, 2015
21:07 EDTBRCMDialog to acquire Atmel in move towards Internet of Things
Atmel (ATML) reached an agreement Sunday to be acquired by Dialog Semiconductor in a deal valued at approximately $4.6B, or the equivalent of $10.42 per Atmel share. Jalal Bagherli, CEO of U.K.-based Dialog, remarked that the combined company will be "a diversified, high-growth market leader" in chips for mobile devices, connected vehicles, and the Internet of Things. In a subsequent Bloomberg interview regarding the deal, Bagherli explained, "We passed the computing era, we're at the height of the mobile era, and we're about to enter the IoT era." The news comes after several semiconductor mergers in 2015 amid slowing growth and saturated markets, with Intel (INTC) agreeing in June to acquire Altera (ALTR) and Avago (AVGO) striking a deal in May for Broadcom (BRCM). Note also China's apparent desire to control companies in the space, evidenced by state-owned firms China Electronics Corp. and Tsinghua's respective pursuits of Atmel and Micron (MU).

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