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