Penguin Solutions shares are trading lower after Barclays downgraded the stock from Equal-Weight to Underweight rating and maintained the price target at $40.

Penguin Solutions' Cree LED Subsidiary Settles Patent Infringement Dispute With Nanolumens; Terms Undisclosed

Cree LED®, a Penguin Solutions brand (Nasdaq: PENG), and Nanolumens today announced that they have entered into a mutually beneficial patent cross-license agreement that resolves a patent infringement dispute involving

Shares of semiconductor companies are trading lower amid concerns that OpenAI's Q2 earnings may weigh on AI growth. Today's Fed minutes revealed that many participants assessed that higher rates would likely be necessary if inflation did not fall.

Shares of semiconductor and chip companies are trading lower amid rising oil prices and bond yields, prompting inflation concerns. Also, declining memory chip companies may weigh on the broader industry.

Shares of semiconductor companies are trading higher, possibly amid overall market strength as promising economic data reduces rate-hike concerns. South Korea's KOSPI, which initiated a chip selloff last month, rebounded and entered a bull market.