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GigaBit Lowers Stake in Cray Computer

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GigaBit Logic Inc., a Newbury Park semiconductor concern, has lowered its stake in Cray Computer Corp. from 9% to 6.7% of the company’s stock.

In a filing with the Securities and Exchange Commission, GigaBit said it sold 425,000 Cray Computer shares between Oct. 12 and Nov. 26, at prices ranging from $4.84 to $3.50 a share. That cut GigaBit’s holdings to 1.2 million shares.

GigaBit acquired its Cray Computer stock last year in exchange for assets that Cray used in manufacturing computer chips. GigaBit specializes in making gallium arsenide chips, which are high-speed semiconductors. Cray Computer makes high-speed “supercomputers.”

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GigaBit announced recently that it plans to merge with TriQuint Semiconductor, a gallium arsenide chip producer and a unit of Tektronix Inc. in Beaverton, Ore.

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