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Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:45 EDTFCS, IRF, CODE, POWI, SMTC, IFNNYInfineon acquires International Rectifier in $3B deal
German semiconductor maker Infineon (IFNNY) agreed to buy U.S. chip marker International Rectifier (IRF) for $40 per share, the companies just announced. WHAT'S NEW: International Rectifier will be acquired by Infineon for $40 per share in cash, or $3B. Infineon said that the deal would create "a highly complementary and innovative semiconductor product portfolio, distribution strength and a stronger regional presence." It will also "complement Infineonís expertise in power semiconductors and add system know-how in power conversion, while expanding its expertise in compound semiconductors and driving greater economies of scale in production," the German company stated. WHAT'S NOTABLE: Before Infineon and International Rectifier announced the deal, Bloomberg reported that Infineon was nearing a deal to acquire a semiconductor company for $2B, but did not name the takeover target. The news service identified Power Integrations (POWI), Fairchild Semiconductor (FCS) and Semtech (SMTC) as takeover targets in the semiconductor space that have market capitalizations under $2B. The shares of all three companies, along with those of semiconductor company Spansion (CODE), rose following Bloomberg's report. Those four stocks gave back some of their gains after International Rectifier's shares were halted for news shortly before 12 PM ET. PRICE ACTION: In early afternoon trading, International Rectifier jumped 47% to $39, while Infineon gave back 3% to $11.20. Power Integrations climbed 4% to $60, Fairchild Semiconductor advanced 6% to $17, Semtech climbed 4% to $24, and Spansion gained 3% to $19.80.
News For IRF;IFNNY;POWI;FCS;SMTC;CODE From The Last 14 Days
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May 21, 2015
16:20 EDTFCSFairchild announces new $150M share buyback authorization
Fairchild announced that its board has authorized the company to repurchase up to $150M of common stock during the next twelve months. Fairchild will repurchase shares at times and prices considered appropriate by the company.
May 20, 2015
07:30 EDTSMTCSemtech recent pullback too severe compared to peers, says Stephens
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May 13, 2015
15:31 EDTPOWIPower Integrations management to meet with Sidoti
Meetings to be held in San Diego/Los Angeles on May 13 and in Portland/Seattle on May 14 hosted by Sidoti.

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