Chips Under Pressure Over Downgrades (MRVL, BRCM, IDTI)

Posted in General, pre-market 
August 26th, 2008

We are seeing some select chip stock downgrades affecting shares negatively this morning.  We have shown the downgrades attached and the pre-market reactions seen so far this morning.

  • Marvell Technology (MRVL) was cut to Hold from Buy at Jefferies; shares down over 4% at $14.90 on more than 300,000 shares.
  • Broadcom (BRCM) was cut to Perform from Outperform at Oppenheimer; shares down 1.9% at $25.67 on volume of only about 8,400 shares.
  • Integrated Device Tech (IDTI) was cut to Perform from outperform at Oppenheimer; shares down 2.6% atr $10.76 on very thin volume.

8:44 AM EST

August 26, 2008

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