Nordic Semiconductor rises as details of sector deal lift valuation estimates

Nordic Semiconductor ASA

16/03/2026 12:33

** Shares in Nordic Semiconductor NOD.OL rise 6%, with analysts pointing to chip designer Silicon Laboratories' SLAB.O preliminary proxy statement on the proposed $7.5 billion acquisition by Texas Instruments TXN.O

** The document, published on Friday, says the offer represents a 61% premium to Silicon Labs' average 30-day share price; Nordic Semiconductor is named as a comparable peer in the valuation work

** "Even the second-highest bid of USD 205 per share implies an EV/Sales multiple of more than 7x expected 2026 revenue. That is roughly twice Nordic's current level," SEB analyst Markus Heiberg says

** Heiberg raises question whether this could serve as a reference point if some of the bidders for Silicon Labs view Nordic Semi as a comparable company

** Petter Kongslie, Head of Research at SB1 Markets AS, says the analysis also shows Silicon Labs had initially explored buying another company and even prepared a potential offer as part of a broader strategic review

** While Nordic Semi was not named in that context in the document, it created some speculation that the Norwegian group may have been the target, Kongslie adds

** The stock is the second best performer on the pan-European STOXX 600 index .STOXX

(Reporting by Alexander Klyve Gudbrandsen, Izabela Niemiec)

((izabela.niemiec@thomsonreuters.com))