Semiconductors Moving Lower Amid Microchip Lowered Guidance

Semiconductor stocks are trending lower Friday following Microchip Technology's lowered guidance.

The company lowered its sales forecast for the second quarter 2015 by roughly $20 million.

Moreover, after Microchip's lowered guidance, Susquehanna declared that "the preannouncement leaves us with little doubt that an industry correction is upon us."

Semiconductor stocks moving lower in Friday’s session:

Freescale Semiconductor Ltd FSL down 11 percent.

Microchip Technology Inc. MCHP down 11.2 percent.
Atmel Corporation ATML down 9.6 percent.

ON Semiconductor Corp ONNN down 9.4 percent. 
Texas Instruments Incorporated TXN down 7.9 percent.

Analog Devices, Inc. ADI down 5 percent. 
Advanced Micro Devices, Inc. AMD down 4.6 percent.
Intel Corporation INTC down 3.7 percent.
NVIDIA Corporation NVDA down 3.9 percent.