In response to Microchip's (MCHP -13.6%) FQ1 warning, UBS is downgrading Microchip, Maxim...

|About: Microchip Technology Incorp... (MCHP)|By:, SA News Editor

In response to Microchip's (MCHP -13.6%) FQ1 warning, UBS is downgrading Microchip, Maxim Integrated (MXIM -5.5%), and ON Semiconductor (ONNN -6%), believing chipmakers with heavy exposure to consumer electronics, PCs, and autos may be in trouble. Other analysts have also voiced concerns about the chip industry.