Under the terms of the agreement, shareholders of Pericom will receive $17.00 per share in cash for each share of Pericom they own.

Pericom and Diodes boards both approved the deal, which is pending approval from Pericom shareholders.

To view the full article, register now. The 52-week high of the share price is $16.81 and the company has a market cap of $273 million. The 50-day moving average is $12.3 and the 200 day moving average is recorded at $13.65.

Brown Capital Management Llc had the most significant stake with ownership of 4.52 million shares as of Q2 2015 for 1.79% of the equity exposure.

Diodes Inc (NASDAQ:DIOD) stock is now trading 28.84% below its 52-week-high, 18.4% above its 52-week-low. Zacks raised Pericom Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday, June 23rd.

What: Shares of Pericom Semiconductor (NASDAQ:PSEM) soared on Thursday after the company announced that it was being acquired by Diodes Incorporated (NASDAQ:DIOD). 928,116 shares of the company were exchanged. Pericom Semiconductor has a 1-year low of $9.00 and a 1-year high of $16.95.

Furthermore, the deal, expected to be completed in the fourth quarter of 2015, is anticipated to be immediately accretive to Diodes’ top line and bottom line. Diodes’ stock rose 5.7 percent. The examination concerns whether the Board of Pericom breached their fiduciary duties to shareholders and whether Diode is underpaying for Pericom. Diodes said it would pay approximately $400M in cash for Pericom, which it says had $129M in revenues. The company has a market capitalization of $367.25 million and a PE ratio of 32.25. The stock presently has an average rating of “Hold” and a consensus target price of $16.00. However, the stock price could fluctuate by $ 0.71 from the estimate as it is suggested by the standard deviation reading.

The semiconductor industry has seen rapid consolidation in the recent months, driven by strong demand for cheaper chips and new products to power Internet-connected gadgets.