Standard Microsystems
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.