Woofun AI reports that ON Semiconductor shares declined over 17% after the company announced plans to acquire chip design firm Synaptics in an all-stock transaction valued at $6.2 billion. The broader U.S. optical communication sector opened lower across the board, with Lumentum and Coherent dropping over 7%, while Marvell Technology and Credo fell more than 5% and Corning declined nearly 3%. Memory chip concepts also faced downward pressure, as SanDisk and Micron Technology slid over 6%, and Western Digital and Marvell Technology dropped more than 4%.