Pulse Electronics Soars 25% On Merger Talk (PULS, BELFA)
December 29, 2010 5:38 PM
Shares of Pulse Electronics Corporation (NYSE: PULS) ended Wednesday trading up 25% at $5.45 per share.
The company announced after the market closed on Tuesday that it had received a letter from Bel Fuse Inc. (Nasdaq: BELFA) indicating that the company intended to nominate 3 candidates to Pulse Electronics Corporation's board of directors.
The company said that Bel Fuse Inc recently expressed an interest in "restarting discussions about a potential business combination."
The day's trading range for shares of Pulse Electronics Corporation (PULS) was $4.80 to $5.50 per share.
Analysts covering Pulse Electronics Corporation stock give it a consensus price target of $6.25 per share.
Trading volume for Pulse Electronics Corporation was heavy, with 1.1 million shares traded today, far above the daily average volume of 270,000 shares.
The company serves manufacturers in the wireless and wireline communications, power management, military/aerospace and automotive industries.
Pulse Electronics Corporation has a long operating history of innovation in magnetics, antennas and connectors, as well as the ability to ramp quickly into high-quality, high-volume production.
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