Shares of Silicon Laboratories ( NASDAQ: SLAB ) surged as much as 10% this afternoon after rumors began to circulate about the chipmaker potentially offloading one of its business units.
Silicon Labs is a technology company that builds semiconductors, as well as other devices and software for Internet of Things (IoT) infrastructure, industrial automation, and other consumer and automotive products.
This afternoon, Bloomberg, citing anonymous sources, reported that the company is considering selling its analog chip business, which could go for as much as $2 billion or $3 billion, or more.
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Why Shares of Silicon Laboratories Are Trading Higher Heading Into the Weekend