NEW YORK (AP) – Semiconductor stocks got a slow start to the week with a mixed trading session on Monday.
NetLogic Microsystems Inc. shares fell after a negative mention about the company appeared in a ''Barron's'' article published over the weekend.
Fred Hickey, publisher of the ''High-Tech Strategist'' newsletter, said in the article he was shorting the stock partly because of the company's reliance on sales to Cisco, which has seen a slowdown in sales in its U.S. enterprise business.
Shares of NetLogic Microsystems fell $1.36, or 4.7 percent, to $27.91 in afternoon trading.
While few chip stocks made dramatic gains, Fairchild Semiconductor International Inc. shares spiked 79 cents, or 4 percent, to $19.89 in afternoon trading.
The stock surged after Robert W. Baird analyst Tristan Gerra upgraded it based on increased bookings.
Gerra lifted his rating on the stock to ''Outperform'' from ''Neutral.''
''Recent checks indicate improving analog (semiconductor) and discrete (semiconductor) trends, strong bookings for the third quarter, and lead times expansion, driven by rebounding notebook and mobile phone (excluding Motorola) demand,'' Baird wrote in a client note.
The Philadelphia Semiconductor Sector Index, which is made up of 19 semiconductor related stocks, climbed 1.19 points, or 0.2 percent, to 503.68.