International Rectifier Falls 7.6% on J.P. Morgan Downgrade
International Rectifier
(IRF)
was down 7.6% in late afternoon.
J.P. Morgan
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reduced the chipmaker to market perform from buy as part of a downgrade of the sector. Semiconductor stocks were already lower on downgrades and the disclosure by
Altera
(ALTR) - Get Altair Engineering Inc. Report
that distributors' sales of its chips failed to meet expectations in October.
