Fallen chip stocks
Query: US semiconductor and chip stocks that fell more than 5% in the past month with market cap over 5 billion · data as of 2026-10-12
Screened $5B+ US semiconductor/chip names for 1-month returns worse than -5%: 9 qualify, led by Cerebras (-23.6%), Skyworks (-15.4%), SK hynix (-14.6%), Silicon Motion (-13.2%) and Cirrus Logic (-10.5%). Panel includes the full requested column set (returns, SMA/52W distances, P/E and forward P/E, momentum score, relative volume, days since earnings) with row commentary, plus industry-context and weakest-by-industry tables showing the weakness is idiosyncratic (consumer/RF, memory, second-derivative AI hardware) while both chip sub-industries still average ~+2% on the month.
Chip stocks with market cap above $5B that are down more than 5% over the past month, as of October 12, 2026. 9 names qualify, with Cerebras, Skyworks, SK hynix, Silicon Motion and Cirrus Logic leading the decliners. Notably, the broader group is still positive on the month — the weakness is concentrated in handset/consumer-exposed analog, memory-linked DRAM/NAND names and a handful of equipment makers, while AI-compute and foundry names remain in uptrends.
Chip Stocks Down >5% in the Past Month
| Symbol | Company | Industry | Market Cap | 1M Return | 1W Return | 1D Return | 6M Return | 1Y Return | % from 150D SMA | % from 52W High | P/E (TTM) | Fwd P/E | Momentum Potential | Rel Volume | Days Since Earnings | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CBRS | Cerebras Systems Inc. | Semiconductors | 3.483e+10 | -23.61% | -19.24% | -10.69% | — | — | — | -52.87% | — | 113.04 | — | 2.4159 | 60 | The AI-chip designer's wafer-scale systems tie it to a small number of hyperscaler deployments, so any hint of order timing slippage or a pushout of capacity financings gets amplified in the equity. Rich forward multiple leaves it highly sensitive to sentiment shifts toward second-derivative AI hardware. |
| SWKS | Skyworks Solutions, Inc. | Semiconductors | 1.757e+10 | -15.45% | -10.98% | -2.16% | 33.22% | 3.74% | 9.78% | -18.32% | 38.7 | 15.02 | 44.1 | 0.6037 | 75 | Skyworks remains the most handset-dependent name in the group, so its fortunes track Apple and Android flagship build plans more than AI capex. Broadcom's grip on premium RF content and in-house modem silicon ambitions keep the structural share-loss overhang in place. |
| SKHY | SK hynix Inc. - American Depositary Shares | Semiconductors | 1.16e+12 | -14.65% | -16.81% | -4.02% | — | — | — | -18.33% | — | — | — | 0.6109 | 75 | HBM pricing and DRAM contract negotiations are the swing factor — after an extraordinary memory upcycle, incremental capex announcements and supplier capacity additions now read as peak-cycle risk. ADR liquidity also magnifies moves versus the Korean local shares. |
| SIMO | Silicon Motion Technology Corpo | Semiconductors | 8.374e+09 | -13.19% | -12.57% | -6.42% | 96.79% | 165.85% | 4.67% | -26.70% | 28.85 | 15.56 | 63.1 | 0.6724 | 74 | Heavy NAND-controller exposure to the consumer storage cycle and its largest customer concentration make the setup binary. The valuation sits at a discount to AI-levered peers, which is why it can rebound quickly on any memory pricing stabilization. |
| CRUS | Cirrus Logic, Inc. | Semiconductors | 5.329e+09 | -10.49% | -12.38% | -0.51% | -34.00% | -14.79% | -25.19% | -40.56% | 13 | 11.95 | 62.9 | 1.0475 | 67 | Cirrus is essentially an Apple accessory stock — the market is pricing in content loss risk and softer handset unit assumptions. Note it is the smallest cap on this list, so index and fund flows can dominate the tape around Apple product cycles. |
| SITM | SiTime Corporation | Semiconductors | 1.708e+10 | -10.32% | -19.71% | -6.91% | 44.35% | 81.49% | -2.79% | -36.76% | — | 38.2 | 70.4 | 1.0656 | 67 | Precision timing chips for AI data-center synchronization are a premium-growth, premium-multiple story; the derating looks tied to the broader AI-hardware de-grossing rather than company-specific news. High beta to the AI capex narrative cuts both ways. |
| NVMI | Nova Ltd. | Semiconductor Equipment & Materials | 1.083e+10 | -8.45% | -13.35% | -3.57% | -32.86% | 5.04% | -24.40% | -43.80% | 42.5 | 24.92 | 64.1 | 0.5177 | 67 | Metrology and materials-characterization tools for advanced logic and HBM capacity — a leveraged read on fab capex plans rather than on chip demand itself. A pushout in any leading-edge node ramp hits order bookings directly. |
| AMKR | Amkor Technology, Inc. | Semiconductor Equipment & Materials | 1.195e+10 | -7.00% | -11.93% | -2.06% | -20.16% | 58.16% | -20.76% | -48.57% | 21.57 | 17.05 | 6.9 | 0.6472 | 76 | OSAT packaging capacity, especially advanced packaging for AI accelerators, has been a structural growth driver; the pullback looks tied to concerns about capex timing and a maturing trailing-edge consumer recovery rather than lost share. |
| ALGM | Allegro MicroSystems, Inc. | Semiconductors | 6.299e+09 | -6.94% | -12.14% | -5.00% | -11.17% | 21.72% | -20.57% | -51.47% | — | 22.52 | 49.1 | 1.1374 | 74 | Magnetic sensing heavily tied to automotive and industrial end markets, where inventory correction and softening EV-related demand remain the key headwinds. Thin margins make earnings revisions especially violent when volumes disappoint. |
Industry Context
| Industry | Constituents | Avg 1M Return | Avg 1Y Return |
|---|---|---|---|
| Semiconductors | 37 | 2.01% | 95.33% |
| Semiconductor Equipment & Materials | 12 | 2.40% | 97.88% |
Weakest Names by Industry
| Industry | Symbol | Company | Market Cap | 1M Return |
|---|---|---|---|---|
| Semiconductor Equipment & Materials | NVMI | Nova Ltd. | 1.083e+10 | -8.45% |
| Semiconductor Equipment & Materials | AMKR | Amkor Technology, Inc. | 1.195e+10 | -7.00% |
| Semiconductor Equipment & Materials | ONTO | Onto Innovation Inc. | 1.343e+10 | -2.67% |
| Semiconductors | CBRS | Cerebras Systems Inc. | 3.483e+10 | -23.61% |
| Semiconductors | SWKS | Skyworks Solutions, Inc. | 1.757e+10 | -15.45% |
| Semiconductors | SKHY | SK hynix Inc. - American Depositary Shares | 1.16e+12 | -14.65% |
Takeaway
The Chip Group Is Not Selling Off — A Narrow Slice Of It Is
On a market-cap-weighted view the semiconductor complex is holding up fine: the equal-weighted average chip name in our $5B+ coverage is still modestly positive on the month, and the sector remains one of the strongest in the cross-asset table. The weakness is concentrated and idiosyncratic, splitting into three camps:
- Consumer/handset-exposed analog and RF (Skyworks, Cirrus Logic, Allegro) — whoever depends on smartphone build plans and automotive inventory is being marked down while the AI story runs elsewhere.
- Memory-linked names (SK hynix, Silicon Motion, plus the memory-adjacent equipment complex) — an acknowledgement that the DRAM/NAND upcycle is late-stage, where capacity additions and peak-margin worries start to outweigh price momentum.
- Second-derivative AI hardware and its tooling (Cerebras, SiTime, Nova, Amkor, Onto) — the same de-grossing that hit optics and photonics is spilling into the semi-equipment and packaging supply chain, as the market shifts preference toward software and platform owners that benefit from cheaper tokens rather than the capex suppliers who build the infrastructure.
How to read the industry split: Semiconductors and Semiconductor Equipment & Materials both average roughly +2% on the month, so the averages are being dragged nowhere — this is stock selection, not sector beta. Within the equipment group the worst names (Nova, Amkor, Onto) are the advanced-packaging and process-control suppliers most levered to near-term fab capex timing, while the lithography and deposition leaders (ASML, Lam, Applied) remain in uptrends with only shallow monthly drawdowns.
What would change the picture: the names on this list are not cheap on trailing earnings in most cases, but they carry the deepest distances from their 150-day moving averages and 52-week highs in the chip universe — a classic oversold-bounce setup if the AI-hardware de-grossing exhausts. Conversely, watch for earnings dates as catalysts: several of these report within the next few weeks, and given the market's current willingness to punish idiosyncratic misses while rewarding beats, guidance will matter far more than the print itself.
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