The motion sensor chipmaker is in talks to be acquired by Japanese electronics parts maker TDK for $12 per share, according to reports.
The Dow Jones Industrial Average scores new record as bank stocks offset the selloff in the technology sector.
The $770 million acquisition will build on a wave of semiconductor deals announced throughout the year.
A string of downbeat earnings reports suggests weak telecom capital spending will take a toll on many companies. That includes some optical component high-flyers.