Tag Archives: pmcs

PMC Jumps As Apple Supplier Skyworks Preps $2 Bil Buy

PMC-Sierra (PMCS) stock surged Tuesday on Wall Street after Apple (AAPL) chip supplier Skyworks Solutions (SWKS) announced its $2 billion acquisition of the Sunnyvale, Calif.-based chipmaker. But PMC-Sierra’s gain was Skyworks’ loss. Skyworks stock dipped nearly 7% in afternoon trading Tuesday as PMC stock rocketed more than 33% in heavy trading. The gain lifted PMC stock to its highest level in six years. Skyworks will pay $10.50 per share for

Apple Supplier Skyworks To Buy PMC-Sierra For $2 Billion

Skyworks Solutions (SWKS) will buy data center chipmaker PMC-Sierra (PMCS) for $2 billion, following fellow Apple (AAPL) iPhone suppliers Avago Technologies (AVGO) and NXP Semiconductors (NXPI) in making acquisitions. Skyworks also gave strong early Q4 earnings. Skyworks announced late Monday that it will pay $10.50 a share in cash for PMC-Sierra, a 37% premium to Monday’s close at 7.69. Skyworks expects the deal to boost annual EPS by 75 cents.