U.S chipmakers sink as Swiss valve maker VAT Group cuts worker hours

Power Integrations

10/10/2018 15:01

** Shares of U.S. chipmakers fell about 2 pct on Wednesday
after Swiss vacuum valve maker VAT Group  VACN.S  warned of
softening demand in the industry
    ** VAT said it was cutting working hours at one of its
factories due to a weakening of demand from the chip equipment
makers it supplies  urn:newsml:reuters.com:*:nL8N1WQ2C4    
    ** Shares of chip equipment maker Applied Materials  AMAT.O 
fell 3 pct, Lam Research  LRCX.O  down 2.5 pct, KLA-Tencor
 KLAC.O  fell 2.4 pct
    ** Shares of chipmakers Intel  INTC.O , Qualcomm  QCOM.O , 
Micron  MU.O , Broadcom  AVGO.O  fell between 1.5 to 2 pct
    ** Separately, shares of analog chipmakers including Texas
Instruments  TXN.O , Microchip  MCHP.O , Cypress Semiconductor
 CY.O  were trading down between 1.8 pct and 2.2 pct after
brokerage Susquehanna reduces PTs citing cyclical risks and
increased likelihood of weaker Q4 guidance  urn:newsml:reuters.com:*:nL4N1WQ45W
    ** The broader Philadelphia SE Semiconductor Index  .SOX  up
~2 pct YTD 

 (Reporting by Sonam Rai in Bengaluru)
 ((RM: sonam.rai.thomsonreuters.com@reuters.net))