Chip stocks rise, Silicon Labs leads gains

Silicon Laboratories

08/09/2022 19:26

** The Philadelphia Semiconductor index  .SOX  was up 1.0% on
Thur vs S&P 500's  .SPX  0.4% increase, with vast majority of
SOX components showing gains
    ** Biggest gainer in SOX was Silicon Laboratories  SLAB.O ,
up 5.3% at $125.08, after hitting highest level since Aug. 30,
and on track for the biggest one-day pct change since July 27 
    ** Second biggest gainer was Advanced Micro Devices  AMD.O 
up 2.7%, Stifel initiated coverage with 'buy' rating, PT of $122
    ** Intel  INTC.O  shares were underperforming, down 0.0% at
$30.64. Deutsche Bank cut PT to $35 from $38, Stifel initiates
with 'hold' rating, $32 PT; early on Sept. 7 INTC CEO told
investors things materialized pretty much as expected, "but even
a little bit worse" since last guidance
    ** About seven stocks in the index were in the red

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))