Mergers and acquisitions activity is also boosting the semiconductor space.
“Chipmaker shares got a boost Monday when Marvell Technology Group Ltd. announced an agreement to buy Cavium Inc. for about $6 billion in cash and stock. And earlier this month, Broadcom Ltd offered to buy Qualcomm Inc. for $105 billion, which would be the largest technology deal in history. Qualcomm rejected the unsolicited proposal, setting up a proxy battle,” according to Bloomberg.
Year-to-date, investors have added $216 million and $803.3 million to SOXX and SMH, respectively.
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