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Chip stocks were mixed on Thursday after Analog Devices (NASDAQ:ADI) reported its second-quarter results.
Shares of Analog Devices fell about 4% despite second-quarter results and third-quarter outlook exceeding analysts’ expectations.
Meanwhile, related stocks, Marvell Technology (MRVL) rose about 3%, while Monolithic Power Systems (MPWR) was largely flat but among the gainers. Texas Instruments (TXN) fell nearly 2% and Microchip Technology (MCHP) dipped around 1%. Intel (INTC) was largely flat but in the red on Thursday.
AI chipmaker Nvidia (NVDA) rose about 1%. Broadcom (AVGO) was also up around 1%. Qualcomm (QCOM) dipped about 2%, while Advanced Micro Devices (AMD) was also in the red.
Taiwan Semiconductor Manufacturing (TSM) climbed about 1%, while GlobalFoundries (GFS) was largely flat but in the red.
Chip equipment makers: KLA (KLAC) slipped nearly 1%, while Applied Materials (AMAT) was largely flat but in the red. Dutch company ASML (ASML) and Lam Research (LRCX) were also largely flat but among the gainers.
More on Analog Devices
- Analog Devices: Compelling Risk/Reward Over The Medium-Term Horizon
- Analog Devices: Remain Buy-Rated As ADI Moves Along The Upcycle Phase
- Analog Devices, Inc. (ADI) Morgan Stanley Technology, Media & Telecom Conference (Transcript)
- Analog Devices’ Q2 results, Q3 outlook exceed expectations
- Analog Devices Non-GAAP EPS of $1.85 beats by $0.15, revenue of $2.64B beats by $130M