Dense-Pac Microsystems' stock price moved up Tuesday amid rumors that the Garden Grove builder of high-powered computer memory systems is a takeover target.
A handful of takeover rumors appeared on Internet message boards saying Micron Technology, a Boise, Idaho, chip maker, was targeting Dense-Pac.
Dense-Pac would not confirm or deny the rumors, "but to my knowledge there has been no attempt to take over the company," spokesman Joe Zappulla said.
Micron executives did not return calls.
The stock, which has lost more than 60% of its value over the past year, climbed 52 cents a share, or 24%, on Tuesday to $2.66 in Nasdaq trading. At one point, the shares were up 47%.
The company's recent victory in a patent lawsuit also may have helped fuel the upswing.
A federal court ruled in April that Dense-Pac did not infringe on a Simple Technology Inc. patent for stacking memory products, but Dense-Pac only disclosed the ruling in a recent regulatory filing. Simple Technology is appealing.
Dense-Pac and Simple have held discussions about a possible settlement, but "nothing definitive has yet to come of [the talks]," Zappulla said.