Rambus to CHOP Workforce by 15% and 4 Chip and Big Data Stocks on the Move
Broadcom Corp. (NASDAQ:BRCM): During the past three months, Broadcom Corporation insiders have completely made Market Sale for approximately $21.57 million, which ranged in price from $31.88 to $36.00 each. Academic studies have suggested that insiders traditionally make higher investment returns than other investors. The shares traded up $0.02 (0.06%) recently at $35.19.
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QUALCOMM Incorporated (NASDAQ:QCOM) has confirmed to engadget that the company’s quad-core Snapdragon S4 chips are to be used in an upcoming smartphone from LG that is to compete with both Samsung (SSNLF) and Apple (NASDAQ:AAPL) devices at the high end of the market, the blog said. The shares traded down $0.12 (0.19%) recently at $62.05.
Rambus Inc. (NASDAQ:RMBS) shares saw a slight drop in after-hours trading on Wednesday following the chip-technology company’s statement that it would cut 15 percent of its workforce as part of a restructuring plan. Rambus stated that it would take a charge of nearly $6 million for severance costs through the next two quarters, and that the job reductions should be finished by the Q4 of the year. The company claims the moves would save between $30 million and $35 million in annual costs. The shares traded up $0.06 (1.26%) recently at $4.82.
Seagate Technology PLC (NASDAQ:STX): According to the “Sierra World Equity Review” blog, Seagate has secured financing for the enabling of an acquisition of OCZ Technology (NASDAQ:OCZ). This repeats rumors of a Seagate/OCZ tie-up that have been widely circulated in the past. The shares traded down $1.72 (4.89%) recently at $33.45.
SanDisk Corp. (NASDAQ:SNDK): On Tuesday, during the Flash Memory Summit 2012, SanDisk stated that Lenovo has chosen one of its SSDs to be the storage solution for the recently launched 14-inch ThinkPad X1 Carbon Ultrabok. Labeled as the “world’s lightest” 14-inch Ultrabook, the ThinkPad X1 Carbon comes with a 128 GB or 256 GB SanDisk X100 SSD for incredibly responsive, small form factor storage. The shares traded down $1.24 (2.85%) recently at $42.30.
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