Sector Snap: Semiconductors waver as ON soars on 2Q outlook

Deutsche Bank analyst Brian Modoff maintained his "Hold" rating on Greensboro, N.C.-based RFMicro Devices Inc. after the company announced it would exit the receiver chip business.

"While this could help margins, it also cuts growth," Modoff warned.

RF Micro Devices shares fell 7 cents, or 2 percent, to $3.38 in midday trading. They have traded in the past year between $2.52 and $7.46.