RTTNews | Dec 15, 2020 10:24AM EST

10:24 Tuesday, December 15, 2020 (RTTNews.com) - Shares of chip maker Xilinx Inc. (XLNX) are rising more than 3 percent or $4.66 in Tuesday's morning trade at $153.69, after hitting a new 52-week high of $154.10 despite no company-centric news.

U.S. stocks are rising on Tuesday amid unrelenting optimism about a new fiscal stimulus bill. The latest proposal calls for a previously unveiled $908 billion bipartisan relief plan to be split into two proposals that could be voted on separately in order to win approval.

Xilinx, which agreed in late October to be acquired by rival Advanced Micro Devices Inc. (AMD) in a $35 billion deal, has traded in a range of $67.68 to $154.10 in the past 52 weeks.

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