🔴 Power Integrations is trading 11.4% down today as Intel’s weak outlook pressures semiconductor stocks

Power Integrations is trading at $42.86, down 11.40%, amid broad semiconductor weakness following Intel’s weaker-than-expected fourth-quarter outlook.

• Reuters reported Intel forecast fourth-quarter revenue of $15 billion to $16 billion, below the $17.07 billion analyst estimate.
• Chip stocks across the sector fell 2% to 10%, while the semiconductor ETF was down 10.40%.
• No Power Integrations-specific announcement was identified for October 30, pointing to sector pressure as the likely explanation.