Supertex to resume trading at 8:00 am ET Quotation to resume at 7:55 am ET, according to Nasdaq. Note that Microchip Technology (MCHP)has signed a definitive agreement to acquire Supertex (SUPX) for $33 per share in cash. Supertex closed trading Friday at $24.38.
Microchip downgraded to Hold from Buy at Drexel Hamilton Drexel Hamilton downgraded Microchip and lowered its price target to $40 from $48. The firm said reduced business confidence will likely result in continued weakness in orders and visibility