So why is the stock 10% cheaper after this fine report?
Oh right, I almost forgot: Standard also announced another acquisition. I think it's fair to say that the market hates it.
While last quarter's catch was a member of the relatively healthy USB market, the target this time is Conexant Systems
Standard will pay about $2.25 per Conexant share while also shouldering the company's $100 million of net debt. Me, I think it's a waste of 280 million perfectly good dollars. Standard could have spent less than $280 million on AuthenTec
So Standard Microsystems is trying its hand at growth by acquisition, but I think it picked a terrible target this time. See how this sordid saga plays out by adding Standard to your Foolish watchlist.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.