Conexant Systems

(CNXT) - Get Report

was down 7.9% in early afternoon after hitting a 52-week low of $9.81.

UBS Warburg

cut its price target to $13 from $20, saying it believes the company may suffer more from worsening business conditions in the current quarter than previously expected.

Warburg also cut its target for another communications chipmaker,

PMC-Sierra

(PMCS)

, to $34 from $50. PMC-Sierra rose O.78%.