While shares in the sector are under pressure, several companies are positioned well for the rest of the year.

'Investors might be underappreciating the newfound pricing power of chip suppliers,' Bank of America analysts said.

Stocks end mixed as rising Treasury yields and a looming global power crisis are holding down broader gains on Wall Street.

Microchip said the split will "increase trading liquidity and to place the stock in a more attractive trading range for retail investors."

Tesla said it had a record rate of production in June, but supply chain disruption and the closure of its Shanghai gigafactory triggered a slump in Q2 deliveries.

GDP shrank an annualized 1.6% in the first quarter, and some experts anticipate another drop in the second quarter.

The platform denies selling proprietary customer data and announces it is expanding into several European countries.