MEMC Electronic Materials (NYSE:WFR) downgraded two notches to Underperform from Buy, target lowered to $12 from $20, at Credit Agricole. The stock closed yesterday at $11.26 on volume of 5,450,600 shares, above the average daily volume of 5,171,762.
In the past 52-weeks, shares of MEMC Electronic Materials have traded between a low of $9.51 and a high of $19.31 and are now at $11.26, which is 18.4% above that low price.
MEMC Electronic Materials is currently above its 50-day moving average (MA) of $10.85 and should find resistance at its 200-day MA of $12.91. In the last five trading sessions, the 50-day MA has fallen 0.17% while the 200-day MA has slid 0.86%.
MEMC Electronic Materials, Inc. produces silicon wafers. The Company's products are used in computers, telecommunications equipment, automobiles, consumer electronics products, industrial automation and control systems, and analytical and defense systems. MEMC operates manufacturing facilities in Italy, Japan, Malaysia, South Korea, Taiwan, and the United States.