Here's Why Shares Of Freescale Semiconductor Hit New 52-Week Highs

In an article published Friday, New York Post said that Freescale Semiconductor Ltd (NYSE: FSL) is exploring a sale of itself.

According to the publication, Freescale Semiconductor recently hired investment banks to explore a possible sale, according to a source close to the situation. The article also noted that CM Research Analyst Cyrus Memawalla recently suggested that Samsung Electronics should spend some of its $63 billion in cash on acquisitions and named Freescale Semiconductor as a potential takeover target.

Shares of Freescale Semiconductor rose to new 52-week highs of $38.94 on Friday morning.