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EZchip Drops to Month-Low, Narrowing Gap With U.S. Shares

July 11 (Bloomberg) -- EZchip Semiconductor Ltd., an Israeli developer of network processors, dropped to the lowest level in more than a month, narrowing the gap with the U.S.- traded stock.

The shares declined 4.2 percent to 140.2 shekels, or the equivalent of $35.38, the lowest since June 4, at the 4:30 p.m. close in Tel Aviv. The New York-traded shares fell 4.5 percent to $35.25 yesterday.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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