Apple (AAPL) supplier Avago Technologies (AVGO) might jettison its unprofitable industrial segment in lieu of a renewed focus on smartphone chips, MKM analyst Ian Ing suggests. This comes as Avago and fellow Apple chip suppliers like Skyworks Solutions (SWKS), Qorvo (QRVO), NXP Semiconductors (NXPI), Qualcomm (QCOM) and Cirrus Logic (CRUS) face continued constraints from slowing growth in the iPhone market, Ing wrote. “Avago is increasingly
A day afterApple (AAPL) supplier Skyworks Solutions (SWKS) backed off from a bidding war for PMC-Sierra (PMCS), Microsemi (MSCC) snared the chipmaker in a $2.5 billion deal Tuesday. Microsemi and PMC investors booed the deal in early trading, however, on the stock market today. Microsemi stock fell 6% and PMC stock was down nearly 2%. Skyworks stock, though, was up nearly 3%. The deal represents a 77.4% premium to PMC stock’s closing price Sept.
Skyworks Solutions (SWKS) and PMC-Sierra (PMCS) terminated their $2 billion merger deal late Monday, after the Apple (AAPL) iPhone chip supplier said it would not raise its bid once again, clearing the field for Microsemi (MSCC) to be the acquirer. PMC-Sierra on Friday recommended Microsemi’s latest bid. With Skyworks unwilling to nudge up its offer, PMC-Sierra terminated the deal and will pay Skyworks an $88.5 million breakup fee. Skyworks