Semiconductor stocks are getting hit hard today, a day after

Micron Technology

(MU) - Get Report

reported a loss of 1 cent a share, which bettered analysts' expectation for a shortfall of 3 cents. Sales for the maker of dynamic random access memory, or Dram, dipped from a year ago in the broad-based downturn in demand for chip technology.

The stock was lately down 10%; the

Philadelphia Stock Exchange Semiconductor Index

, the day's poorest performer among the major technology indices, lost 5%. Semiconductor stocks have been in a process of bottoming out for several months, but since hitting the ground, rallies haven't been able to gain any traction. Instead, they're using the ground as a place to dig, as several specialty chipmakers hit 52-week lows today.

Among those are


(XLNX) - Get Report

, which was lately down 4.4% to $35.25, and



, down 1.3% to $24.13. Communications chipmaker


is off 6.1% to $27.41.

Other major chipmakers weren't exactly impressing anybody, either.




(INTC) - Get Report

was lately down 4% to $25.56

Advanced Micro Devices

(AMD) - Get Report

lost 4.9% to $26.75, and

Applied Materials

(AMAT) - Get Report

fell 5.5% to $43.13

Chip stocks have suffered from overcapacity amid a dearth of demand. While some makers have said their inventories are in reasonable shape, others like Xilinx recently stated that they possess significant backlogs. As a result, capacity utilization in the semiconductor industry has dropped drastically. In February semiconductor makers were only using 80% of their capacity, while last year they were using 97% of their capacity.

Merrill Lynch's

semiconductor analyst Joseph Osha was somewhat positive on Micron's outlook in a comment today, noting that Micron said inventory levels peaked about five weeks ago. "With supply growth decreasing, we believe that Micron stands to benefit almost immediately from an environment of firming prices," he wrote.