Chip Stocks Caught in Microchip Backdraft? - Kevin Calabrese

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Chip Stocks Caught in Microchip Backdraft?
Jun 11, 2008 05:53 PM UTC

Kevin Calabrese

Return	Risk
-3.90%	MID

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Symbol	Sentiment	Start	Return	Closed
MCHP	n/a
ONNN		06/11/08	-3.90%	--

Via Long Investment Ideas from Seeking Alpha:

Shares of power regulation chip maker On Semiconductor (ONNN) are getting hit today, down as much as 7%, at one point, is now down 34 cents, almost 4%, at $8.92, on no apparent news.

The news may be as simple as today’s downgrade of fellow chip maker Microchip Technology (MCHP), which JP Morgan cut to “Neutral” today over worries about China.

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