Virata Nearly  Halved on UBS Warburg Downgrade

Telecom equipment maker Virata ( VRTA) was down 4.7% at midafternoon after UBS Warburg cut it to buy from strong buy, saying the company could soon be stuck with an inventory backlog. The move came a day after the company beat the Street's second-quarter earnings estimate.

More from Technology

Worries About a Trade War Could Throw Wrench Into the Tech Stock Rally

Worries About a Trade War Could Throw Wrench Into the Tech Stock Rally

5 Stock Picks Under $10 for Millennials

5 Stock Picks Under $10 for Millennials

3 Apps Than Make Retirement Planning Fun for Millennials

3 Apps Than Make Retirement Planning Fun for Millennials

Decision on AT&T's Merger With Time Warner Marks a Monumental Week for M&A

Decision on AT&T's Merger With Time Warner Marks a Monumental Week for M&A

3 Things Amazon Still Hasn't Figured Out At Whole Foods 1 Year In

3 Things Amazon Still Hasn't Figured Out At Whole Foods 1 Year In