Microsemi to acquire PMC-Sierra for $2.5B

Things escalated from there, with Microsemi finally agreeing to acquire PMC for $9.22 in cash and 0.0771 of a share of Microsemi common stock for each share of PMC in a transaction valued at approximately $2.5B and representing about a 77% percent premium to the closing price of PMC shares as of September 30.

Skyworks Solutions (NASDAQ:SWKS) VP Mark V.B. Tremallo sold 5,900 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, November 17th. With the cessation of the proposed deal, Skyworks is entitled to a termination fee of $88.5 million from PMC-Sierra. Skyworks said that it takes a “highly disciplined” approach to identifying takeover candidates and that PMC no longer meets its financial criteria at an increased valuation. Non-GAAP earnings are expected to be approximately $1.60 per share.

Among the analysts, the highest EPS was $0.2 and the lowest was $0.16. The firm has a 50 day moving average price of $11.37 and a 200 day moving average price of $8.54.

Despite the proceedings, Skyworks remained firm on its outlook for first-quarter fiscal 2016. Also, because of different datasources, our reporting and figures may be different then the numbers reported by FactSet and other sources. The semiconductor manufacturer reported $1.52 EPS for the quarter, meeting analysts’ consensus estimates of $1.52. During the same period previous year, the business posted $1.12 earnings per share. The earnings report after that one will be on April 25, 2016, and the report for the fiscal year will be made available on February 4, 2016.

On Tuesday, November 10th, Mark V.B. Tremallo sold 11,700 shares of Skyworks Solutions stock.

The overall rating for the company is 3.11. Leveraging on product innovation and broad-based customer demand, the company appears poised for sustainable above-market growth in the near term. Canaccord Genuity reiterated a “buy” rating and set a $132.00 price target on shares of Skyworks Solutions in a research report on Friday, September 25th.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Walkley has a total average return of 16.1% and a 61.6% success rate.

PMC-Sierra, Inc. (NASDAQ:PMCS) is a semiconductor and software solution innovator transforming networks that connect, move, and store Big Data.