Shares of semiconductor companies rose nearly across the board Monday, as Amkor Technology Inc. and SanDisk Corp. received upgrades, and Broadcom Corp. climbed following a patent dispute win.
In afternoon trading, the Philadelphia Semiconductor Sector Index was up 6.59 points at 400.40. The only stock on the 18-company index to decline was Marvell Technology Group Ltd., which slipped 20 cents to $16.68.
Broadcom led the gainers, adding $1.08, or 4.2 percent, to $26.87. The communications chip company on Friday said the U.S. International Trade Commission found that a company acquired by Broadcom last year did not violate two patents held by SiRF Technology Holdings Inc. SiRF's shares rose 9 cents to $6.46.
Thomas Weisel Partners analyst Heidi T. Poon noted that Broadcom would have faced import restrictions on disputed products if it lost the dispute.
Outside the index, shares of chip packaging and testing services company Amkor spiked $1.08, or 10.2 percent, to $11.72 after American Technology Research analyst Bill Ong upgraded the stock to "Buy" from "Neutral." Ong said the company could benefit from an expected increase in demand for high-end handsets in the second half of this year.
Meanwhile, SanDisk Corp. climbed 44 cents to $24.47 after a JMP Securities analyst upgraded the flash memory chip maker to "Market Perform" from "Market Underperform."
Other notable gainers among chip companies were LSI Corp. _ up 35 cents, or 5 percent, to $7.35 _ and Infineon Technologies AG, which added 39 cents, or 4 percent, to $10.14.
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