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%.
Solid state drive maker OCZ Technology struggles with internal turmoil and a tough competitive environment. Some observers wonder whether the company is quietly shopping itself.
©1996-2017 TheStreet, Inc. All rights reserved.Action Alerts PLUS is a registered trademark of TheStreet, Inc.