Needham Downgrades MPWR, POWI; Semiconductor ETF (SMH) Underperforming

June 16, 2009 12:23 PM EDT

Semiconductor stocks are struggling to stay afloat today following two downgrades from an analyst at Needham & Co. The Semiconductor HOLDRs ETF (NYSE: SMH), a broad measure of the entire sector, is underperforming the major averages this afternoon, down 0.6% during today's session.

  • downgraded Monolithic Power Systems (Nasdaq: MPWR) from Strong Buy to Buy
  • downgraded Power Integrations (Nasdaq: POWI) from Buy to Hold


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Downgrades

Stocks Mentioned

MPWR 24.10

+0.30 +1.26%
Volume: 420,762
Track MPWR

POWI 36.43

+1.57 +4.50%
Volume: 327,802
Track POWI

SMH 27.13

+0.37 +1.38%
Volume: 15,486,649
Track SMH


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