Shares of Atheros (ATHR) are up 58 cents, or 1.3%, at $44.58 after the wireless chip maker this morning confirmed press reports that surfaced late yesterday, saying it has agreed to be acquired by Qualcomm (QCOM) for $45 per share in cash, a deal worth $3.1 billion.
Qualcomm shares are up [...]

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Barclays Capital analyst Tim Luke this morning upped his rating on Atheros Communications (ATHR) to Overweight from Equal Weight, with a new target of $38, up from $34.
Luke said the upgrade follows industry checks and meetings with management. “Following a period of PC weakness in [the 2010 second half], Atheros [...]

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Atheros Communications (ATHR) shares traded lower after hours on weaker-than-expected guidance for the fourth quarter.
For Q3, the WiFi chip maker posted revenue of $247.1 million and non-GAAP profits of 67 cents a share, about in line with the Street at $248.4 million and 67 cents.
But the company told investors on [...]

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Atheros Communications (ATHR) shares are taking collateral damage from this morning’s weak outlook from Nintendo, with disappointing demand for the DS hand-held line, and a a later-than-expected launch for the game company’s new 3DS model. Atheros chips are designed into both the DSi and DSi XL models.
Cowen & Co. analyst [...]

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Atheros Communications (ATHR) shares are trading sharply lower in late trading despite better-than-expected Q2 results. The company also announced an agreement to acquire Opulan Technologies for at least $72 million in cash.
For the quarter, ATHR posted revenue of $238.2 million and non-GAAP EPS of 67 cents; the Street had been [...]

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FBR Capital analyst Craig Berger this morning raised his rating on Atheros Communications (ATHR) to Outperform from Market Perform, asserting that with the stock below $30, the risk/reward is now attractive “given the firm’s increasingly successful diversification efforts,” as well as checks that find its powerline networking chips are gaining [...]

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Atheros (ATHR) this morning said it has a deal with the U.S. Department of Energy to receive a grant of up to $4.5 million to develop powerline chips to provide two-way data communications over existing AC wiring, “a vital element for Smart Grid applications.”
The grant is part of the government’s [...]

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It’s my favorite time of the week: Crazy-ass rumor Friday!

• OmniVision (OVTI) shares have spiked on what TheFlyOnTheWall.com calls “unconfirmed takeover speculation.” Briefing.com has also picked up on the chatter. Haven’t seen any theories on who might buy them. OVTI is up 80 cents, or 5.2%, to $16.26.
• Meanwhile, Briefing also reported that there are rumors that Atheros Communciations (ATHR) was “rumored to be hearing interest” from Cisco Systems (CSCO). ATHR is up 47 cents, or 1.3%, to $37.37.

Hang tight, I suspect there will be more where those came from.

Earlier: Radio Shack Mulls Sale Of The Company, N.Y. Post Reports

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Atheros Communications (ATHR) shares are trading modestly lower after Barclays Capital analyst Romit Shah this morning reduced his rating on the stock to Equal Weight from Overweight. He keeps his $40 target.

“While the design win pipeline has never been strong, it is unclear if notebooks and the 802.11m product cycle in networking can overwhelm like-for-like pricing and share loss in netbooks,” he writes in a research note.

ATHR is down $1.20, or 3.2%, to $36.02.

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