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Sector movers: CSR takeover approach gives tech stocks a boost

Thu, 28th Aug 2014 16:08

M&A activity sent UK technology stocks to the top of the pile in London on Thursday after it was revealed that chipmaker CSR had attracted interest from overseas.CSR's shares were up 35% after the wireless technology firm confirmed rumours that it had received a takeover offer from American semiconductor manufacturing group Microchip but that the price proposed by the Nasdaq-listed firm was too low.The statement followed a Financial Times report that suggested CSR had received takeover offers from a number of rival semiconductor groups. The paper cited sources as saying that the business could fetch a price of as much as $3bn, compared its market capitalisation of $1.57bn as of Wednesday's close.The company, formerly known as Cambridge Silicon Radio, makes components for devices that fall under the so-called 'internet of things' (IoT) umbrella, focusing on the voice and music, bluetooth, in-car infotainment, navigation and document imaging markets.Analysts at Liberum said in an email: "We have long held that CSR is the most likely take-out target under our coverage given its attractive end market exposure (smart cars, connected home, IoT), significant tax assets ($110m deferred tax asset) and low tax rate thereafter (20%)."Imagination Technologies was also a high riser on Thursday, up nearly 7%, while ARM holdings gained 0.4%."There is a wave of M&A in the semiconductor space and premiums are going higher," Liberum said.Top performing sectors so far todayTechnology Hardware & Equipment 1,161.41 +2.17%Construction & Materials 3,998.67 +1.37%Gas, Water & Multiutilities 6,182.65 +0.59%Fixed Line Telecommunications 4,424.58 +0.39%Beverages 13,843.62 +0.20%Bottom performing sectors so far todayElectronic & Electrical Equipment 3,772.43 -3.29%Mining 17,247.63 -2.21%Automobiles & Parts 8,211.29 -1.57%Food & Drug Retailers 3,338.60 -1.34%Chemicals 10,388.00 -1.12%BC
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2 Jan 2020 07:37

Apple inks licensing deal with Imagination Technologies

(Sharecast News) - Apple has inked a new supply deal with Imagination Technologies for its graphics processing units.

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19 Mar 2018 15:03

Total renewables unit targets Africa's power-starved mining sector

By Joe Bavier ABIDJAN, March 19 (Reuters) - Total's renewable energy unit said on Monday it had opened the world's largest solar-thermal hybrid plant in the of

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12 Mar 2018 14:35

CANADA STOCKS-Toronto stocks edge up, following global markets higher

March 12 (Reuters) - Canada's main stock index rose modestly on Monday, buoyed by improved risk appetite in global markets but declines in energy shares and gold producers

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9 Mar 2018 21:24

UPDATE 1-CANADA STOCKS-TSX ends higher alongside global stocks, oil, metals

By Nichola Saminather TORONTO, March 9 (Reuters) - Canada's main stock index closed higher on Friday, lifted by strong gains in oil and metals

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7 Dec 2016 09:55

Imagination Technologies boosted by Numis upgrade

(ShareCast News) - Imagination Technologies Group gained as Numis raised its rating on the stock to 'buy' from 'add' and lifted the target price to 310p from 280p following better-than-expected results. The chip maker on Tuesday reported royalty revenues rose 6% and licensing revenues increased 7% i

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7 Dec 2016 09:33

BROKER RATINGS SUMMARY: Credit Suisse Raises Rio Tinto And Cuts BHP

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6 Dec 2016 08:17

Peter Hill to chair Imagination Technologies

(ShareCast News) - Multimedia, processor and communications technology company Imagination Technologies Group announced on Tuesday it has appointed Peter Hill CBE as non-executive chairman with effect from 1 February 2017, with him joining the board on 1 January. The London-listed firm said Peter is

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29 Sep 2016 11:56

Broker tips: Imagination Technologies, Babcock, Sainsbury's

(ShareCast News) - Imagination Technologies shares fell on Thursday after Numis downgraded the stock to 'add' from 'buy' after the company sold its Pure digital radio business. The group, which designs chips for iPhones, sold Pure to Austria's AVenture AT for £2.6m in cash as it looks to reduce debt

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29 Sep 2016 10:31

Numis cuts rating on Imagination Technologies to 'add' from 'buy'

(ShareCast News) - Imagination Technologies shares fell on Thursday after Numis downgraded the stock to 'add' from 'buy' after the company sold its Pure digital radio business. The group, which designs chips for iPhones, sold Pure to Austria's AVenture AT for £2.6m in cash as it looks to reduce debt

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29 Sep 2016 08:27

Imagination Technologies sells Pure digital radio business for £2.6m

(ShareCast News) - Imagination Technologies said trading in the first quarter continues to be in line with the board's expectations and announced an agreement to sell its Pure digital radio business to Austria's AVenture AT for £2.6m in cash as it looks to reduce debt. The company said the deal also

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12 Aug 2016 08:29

BROKER RATINGS SUMMARY: Merrill Lynch Upgrades Tullow Oil To Buy

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10 Aug 2016 10:11

Wednesday broker round-up

(ShareCast News) - Ibstock: Jefferies reiterates buy with a target price of 190p. Legal & General: Barclays maintains equal-weight with a 194p target. Glencore: UBS reiterates buy with a 220p target. Booker: HSBC stays at neutral with a 200p target. Spire Healthcare: Berenberg reiterates buy with

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10 Aug 2016 08:35

BROKER RATINGS SUMMARY: Panmure Raises RSA Insurance To Buy From Hold

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18 Jul 2016 15:55

LONDON MARKET CLOSE: Stocks Given Helping Hand From ARM Takeover

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18 Jul 2016 09:38

WINNERS & LOSERS SUMMARY: ARM Takeover Also Lifts Imagination Shares

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