Cisco’s Own Chip Lifts EZchip Volumes: Israel Overnight
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Trading volumes on EZchip Semiconductor Ltd., Israel’s second-largest chipmaker, jumped to more than 40 times its 90-day average after Cisco Systems Inc. became the fourth customer to announce development of in-house processors.
The Yokneam, Israel-based chipmaker sank 21 percent to $24.52 yesterday in New York, with trading volumes 42 times the daily average volume over the past three months. EZchip led declines in the Bloomberg Israel-US Equity Index of the most traded Israeli shares in New York. Protalix BioTherapeutics Inc. dropped the most in two years after announcing it will raise $60 million through a private placement of convertible notes. SodaStream International Ltd. rose 4.1 percent.