Hedge fund Ramius wants Actel to sell its flash business or "significantly reduce expenses" in it and focus only on its core end markets. Ramius also wants the company to look into a joint venture with a large competitor that could offer development and marketing support, and that has the tools to increase market share and profitability in more competitive end markets. Ramius currently holds 2,047,839 shares (7.9% of the outstanding). For more details, see the Activist Spotlight, at right.

Private-equity outfit Ramius reported owning 1,689,039 shares (6.6%) of the chip maker, bought from Sept. 3 to Oct. 10 at $10.06 to $14.00 per share.

Actel recently announced the approval by its Board of Directors of authority to repurchase up to 1,000,000 more shares of Common Stock under the Company's stock repurchase program. This action will permit the Company to continue repurchasing shares of its Common Stock from time to time as market and business conditions warrant. Including the 1,000,000 shares most recently authorized, the Company has remaining authority to repurchase 1,688,442 shares under the program.

Actel recently announced the approval by its Board of Directors of authority to repurchase up to 1,000,000 more shares of Common Stock under the Company's stock repurchase program. This action will permit the Company to continue repurchasing shares of its Common Stock from time to time as market and business conditions warrant. Including the 1,000,000 shares most recently authorized, the Company has remaining authority to repurchase 1,688,442 shares under the program.

Downgraded by AG Edwards from Buy to Hold