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Apple to Acquire Fingerprint Reader Maker AuthenTec for $350 Million in Cash (AAPL)

By Dividend.com,  July 27, 2012, 09:13:57 AM EDT

Computer and mobile device maker Apple Inc. ( AAPL ) on Friday said it would buy fingerprint sensor maker AuthenTec Inc. ( AUTH ) for around $350 million in an all-cash deal.

The $8 per-share deal represents a massive 58% premium over AUTH's Thursday closing price of $5.07. Always secretive about their business plans, Apple refused to provide any details of its intentions for using AuthenTec's technology.

Along with fingerprint readers, AUTH also makes sensors for near-field communication, commonly known as NFC.

Apple shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Apple ( AAPL ) have a 1.84% dividend yield, based on last night's closing stock price of $574.88. The stock has technical support in the $530-$550 price area. If the shares can firm up, we see overhead resistance around the $610-$618 price levels.

Apple Inc. ( AAPL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: AAPL, AUTH



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