MEMC Maintains Q3 View; Warns On Semi Sector Demand (WFR)

From Tech Trader Daily:

...In a statement, CEO Nabeel Gareeb said that recent silane and polysilicon production rates at its Pasadena, Texas facility, combined with strength in demand from solar customers, “could allow us to achieve results in the upper half of our targeted financial range.” But he also says that “there is increased softness in demand from semiconductor application customers, primarily due to their inventory reduction initiatives.” Net net, MEMC left its old forecast in place....