Friday, December 21, 2012, 7:33 PM
PLX Technology (PLXT) appoints David K. Raun as its president and CEO, effective immediately, and includes a position on the board. Mr. Raun has been serving as interim president and CEO, and has held multiple senior executive leadership positions at PLXT since 2004.
Wednesday, December 19, 2012, 7:54 PM
Integrated Device Technology (IDTI) and PLX Technology (PLXT) mutually agree to terminate their merger, in response to a determination by the FTC to file an administrative complaint challenging IDT's proposed acquisition of PLXT and the absence of a clear path for the parties to complete the deal. Concurrently, IDT is also withdrawing its related exchange offer to acquire all of the outstanding shares of common stock, and intends to return all previously tendered shares.
Monday, July 30, 2012, 5:17 PMPLX Technology (PLXT): Q2 EPS of -$0.07 misses by $0.05. Revenue of $26.1M (-15% Y/Y) misses by $2.4M. (PR)
Tuesday, May 1, 2012, 9:44 AM
Diversified chipmaker Integrated Device Technology (IDTI -11.1%) plunges after it pays a huge premium to acquire PLX Technology (PLXT +63.6%), a maker of Ethernet, USB, and PCI interface chips. IDT predicts the deal will be accretive to earnings by the January '13 quarter, and will produce $35M+ in annual cost synergies. Canaccord (Buy) is still bullish on IDT, but worries the deal adds complexity to its turnaround story.
Comment![Tech, On the Move, M&A, Quick Ideas]
Monday, April 30, 2012, 7:05 PM
Integrated Device Technology (IDTI) acquires PLX Technology (PLXT) for around $330M as the manufacturer of semiconductor products looks to enhance its product portfolio. PLXT shareholders will receive $3.50 in cash and 0.525 shares of IDTI for each share outstanding. That values PLXT at around $7 a share, a 76% premium to today's close. PLXT +65.7%, IDTI -6.9% AH. (PR)
Comment![Tech, M&A, On the Move]
Monday, April 30, 2012, 5:24 PMPLX Technology (PLXT): Q1 EPS of -$0.12 misses by $0.06. Revenue of $25.4M (-9.6% Y/Y) misses by $1.4M. Shares +69.6% AH. (PR)
Comment![Earnings, Tech, On the Move]
Monday, January 23, 2012, 5:15 PMPLX Technology (PLXT): Q4 EPS of -$0.10 misses by $0.04. Revenue of $25.9M (-8% Y/Y) in-line. (PR)