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Telecom chipmaker PMC-Sierra (PMCS) rises 3.3% AH after activist money manager Relational...

Telecom chipmaker PMC-Sierra (PMCS) rises 3.3% AH after activist money manager Relational Investors discloses it has a 7.17% stake in the company, and asserts PMC's board "may need to consider broader strategic alternatives." PMC's growth has been held back in recent years by its exposure to legacy technologies such as T1/T3 lines, ATM switches, and SONET optical gear.
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