Semtech Corp. (SMTC) announced after the bell Monday that it agreed to acquire all of the outstanding shares of Gennum Corp. for approximately $494 million. Semtech's management expects that the acquisition will be accretive to non-GAAP EPS by more than $0.20 in fiscal year 2013 and more than $0.40 in fiscal year 2014.
Semtech Corp. gapped up at the open Tuesday and climbed throughout the first 2 hours of trade. The stock finished higher by 2.25 at $29.14, with volume at a 5-month high. Semtech closed challenging resistance at the highs of the year, trading at an 8-month high.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.