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Shares of Inseego (NASDAQ: INSG) were moving higher today as the maker of networking hardware, including 5G components, rose on a Wall Street Journal report that Analog Devices (NASDAQ: ADI) was planning to buyMaxim Integrated Products (NASDAQ: MXIM) for more than $20 billion in an all-stock deal.
Since Maxim is also a 5G player, the news lifted Inseego along with other 5G stocks as it shows other chipmakers are interested in 5G acquisitions.
As of 2:18 p.m. EDT, Inseego shares were up 9.9%, while Maxim had gained 10.9% and Analog was down 3.6%.