Silicon Laboratories (NASDAQ: SLAB)
Silicon Laboratories is having an incredibly strong time in the market at the moment. The reason for the gain is relatively simple. The company may be a takeover target. Today, we’ll talk about what we’re seeing in the market, why we’re seeing it, and what we can expect to see from SLAB stock ahead.
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SLAB Gains Big
As mentioned above, Silicon Laboratories is having an incredible day in the market today. The gains started in the early morning hours and have been pretty steady throughout the day thus far. Currently (10:26), SLAB is trading at $61.60 per share after a gain of $2.40 per share or 4.05% thus far today.
Why The Gains Are Happening
The reason for the gains is a relatively simple one. DealReporter hinted at the idea of SLAB being a takeover target for MXIM. As we know, nothing seems to get investors quite as excited as the thought of an acquisition. As a result, we’re seeing big gains.
The truth is that DealReporter didn’t even start a rumor saying that the deal was going to happen. Instead, they simply suggested that Silicon Laboratories would be a great takeover target. With that said, I’m not expecting for an acquisition to take place any time soon. Nonetheless, SLAB is an incredibly strong stock and will likely continue on gains moving forward.
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[Image Courtesy of Pixabay]