XLNX - Why Xilinx Jumped 15% This Week
Shares of semiconductor maker Xilinx (NASDAQ: XLNX) are up 15.1% for the week as of 12:40 p.m. ET Friday, according to data from S&P Global Market Intelligence . The big move, however, doesn't reflect a strong earnings report or an impressive competitive development. Rather, this week's advance mirrors that of Advanced Micro Devices (NASDAQ: AMD) stock, which is being used to finance the AMD acquisition of Xilinx that recently cleared a potential impasse.
Advanced Micro Devices' intent to acquire Xilinx was first unveiled in October 2020. The COVID-19 pandemic created logistical hurdles for the planned pairing, but making matters even more complicated was the need for a regulatory sign-off from China. That clearance came a week ago today, boosting AMD shares. The merger, after all, should create one of the world's premier chipmakers with exposure to several key markets including data centers and mobile devices.
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Why Xilinx Jumped 15% This Week