Deal valued at $650 million continues a streamlining at Singapore-based seller following its $6.6 billion purchase of LSI earlier this year.
PLX Technology (PLXT) surged Monday after Avago Technologies (AVGO) announced it would acquire the company in an all-cash deal that values PLX at approximately $298.3 million.
PLX Technology (Nasdaq:PLXT) has been upgraded by TheStreet Ratings from a hold to buy.
Computer and technology is one of ten sectors overvalued by more than 20%.
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