Stock Price Movement of Qorvo, Microchip Technology, and more Companies
Qorvo Stocks Dip by 4%
In the premarket trading, the stock prices for Qorvo have experienced a high dip. The dip was observed following an announcement made by the analysts at Goldman Sachs. The analysts have announced that they have downgraded the stock status of the chipmaker.
Initially, the Goldman Sachs analysts had set the stock status for Qorvo to “buy”. After the downgrade, the stock status for Qorvo is now at “neutral”.
The analysts have remarked that it is due to the recent drop in the demand rate for microchips that have pushed their sales downwards. They have predicted that the performance of Qorvo may remain the same in near future given the challenging time that the chip industry is facing.
After the announcement, the share prices for Qorvo have experienced a 4% dip. It is being feared that the share prices for Qorvo may continue dropping if the situation does not get fixed.
Microchip Technology Shares Dip by 1.8%
The share prices for Microchip Technology have also observed a dip in premarket trading after. The dip was observed following the involvement of the analysts at Goldman Sachs. The analysts at Goldman Sachs reportedly downgraded the stock status for Microchip Technology from “buy” to “neutral”.
This is a huge blow to Microchip Technology because it is only going to make the situation worse for the chipmaker. Microchip Technology is already under hot water for generating below expectation results in the past quarters.
The recent action taken by the analysts has just made the matter worse for Microchip Technology. So far, the share prices for Microchip Technology have experienced a 1.8% dip, and they may continue dropping in the near future.
Teradyne Shares Lost 2.8% Value
The share prices for Teradyne have experienced a huge dip in premarket trading. According to the stock market analysis report, Teradyne experienced a 2.8% dip following an announcement from Goldman Sachs downgrading its stock.
The stock status for Teradyne has been downgraded from “buy” to “neutral”. Goldman Sachs analysts have given the same reasons as they have laid out for Qorvo and Microchip Technology.