LeCroy shares jumped on news announced May 29 that the company would be acquired by Teledyne Technologies (NYSE:TDY) for $14.30 per share, or approximately $291 million in aggregate.
For the fiscal year ended July 2, 2011, LeCroy had sales of approximately $178.1 million. Its third quarter of 2012 marked its ninth consecutive quarter of year-over-year revenue growth.
Chuck Royce, manager of the small-cap Royce Funds, has owned LeCroy shares since prior to the second quarter of 2007 and had been reducing his holding for the last eight quarters. He had 640,036 shares remaining at the end of the first quarter 2012.
Jim Simons, manager of the science and math-driven Renaissance Technologies Corporation, also has owned the stock since prior to the second quarter of 2007, and had been reducing his holding for the last four quarters. He had 676,400 shares remaining at the end of the first quarter 2012.