• Silicon Labs surges 10% on report the company is exploring a potential breakup and sale of its analog chip business

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    The semiconductor company’s stock jumped after Bloomberg’s report that the company is exploring its business options. 
    The analog chip unit could sell for $2 billion to $3 billion, according to sources in the report. 
    Silicon Labs hasn’t made any final decisions about what it plans to do with its operations. 
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    Silicon Laboratories stock leapt 10% on Friday following a report the semiconductor manufacturer is exploring a breakup and considering selling its analog chip business. 
    The unit could sell for $2 billion to $3 billion, according to Bloomberg, citing unnamed people familiar with the matter. 
    Shares of Silicon Labs climbed 10.5% to an intraday and 52-week high of $162.92 in heavy trading volume. The stock so far this year has picked up 27% and has risen about 62% over the past 12 months. 
    The company has not made any final decisions about a potential breakup or about selling the unit, the report said. 
    Read the original article on Business Insider

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