Conexant Extends Tech Deal With Sharp

Conexant Systems Inc., the Newport Beach-based chip maker, said Monday that it expects to save millions of dollars on research by extending its joint technology development deal with Tokyo consumer electronics giant Sharp Corp.

Conexant’s stock hit a 52-week high Monday, rising $5.56 a share to $63.88 amid heavy trading. The companies expect the deal to continue the development of small and faster semiconductor chips, which will be used in digital home electronics and communications equipment.

Sharp and Conexant have been working together since early 1998 on their semiconductor manufacturing processes.