Traders Heavily Sold Down These 10 Stocks on Thursday

5. Microchip Technology Inc. (NASDAQ:MCHP)

Investors resorted to profit-taking in shares of Microchip Technology on Thursday following earlier gains, pushing the company’s price down by 13.56 percent to end at $38.81 each.

Despite being headquartered in the US, shares of MCHP were sold down given its huge international trade exposure that could be largely impacted by the ongoing trade tensions globally. It does not help that China is one of the countries where MCHP has a large footprint on, having 16 sales and technical offices across the mainland and a development center in Shanghai.

According to the company, its China operations work with approximately 170 strategic channel partners and serve more than 12,000 customers.

MCHP currently employs approximately 440 employees in the mainland.

Earlier this week, an analyst warned that chipmakers’ indirect exposure to electronics and machinery would impact them more than investors realized.