NEW YORK (TheStreet) -- Shares of Fairchild Semiconductor Intl. Inc. (FCS) are higher by 6.29% to $16.99 in mid-morning trading on Wednesday, following a Bloomberg report suggesting Infineon Technologies AG (IFNNY) is close to striking a deal to purchase a U.S.-based semiconductor company for almost $2 billion.
In a report published in July, Bloomberg said the largest chip maker in Germany could be eyeing Fairchild Semiconductor as a potential acquisition, the report also mentioned Power Integrations Inc. (POWI) , and Semtech Corp. (SMTC) as possibilities.
The potential billion dollar purchase could be announced as early as today, sources told Bloomberg.
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Power Integrations stock is higher by 9.46% to $62.62, and shares of Semtech are up 8.09% to $25.25 this morning.
Separately, TheStreet Ratings team rates FAIRCHILD SEMICONDUCTOR INTL as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FAIRCHILD SEMICONDUCTOR INTL (FCS) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."