Freescale Semionductor Ltd. has engaged investment bankers to explore its possible sale, according to a New York Post report.
The report cites an anonymous source said to be close to the situation. A spokesperson for Freescale did not immediately respond to request for comment.
Last month, Freescale reported that sales for the fourth quarter of 2014 totaled $1.1 billion, down 9 percent sequentially but up 2 percent from the fourth quarter of 2013. The company reported a profit for the quarter of $63 million, down 50 percent compared to the previous quarter but up compared with a net loss in the fourth quarter of 2013.
For the full year 2014, Freescale (Austin, Texas) reported sales of $4.64 billion, up 11 percent from 2013. The company reported a profit for the year of $251 million, compared to a loss of $208 million in 2013.
According to IHS Technology, Freescale is the fourth leading supplier of automotive semiconductors, with a market share of roughly 7. 4 percent in 2014. Freescale is the second largest supplier of microcontrollers, trailing only Japan’s Renesas Electronics Corp., according to IHS.
Freescale’s stock traded at $37.17 in afternoon trading Friday (Feb. 13), up 2.5 percent from Thursday’s closing price.
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