O2Micro hits lowest level since 2006 after downgrade

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O2Micro International Limited (Nasdaq:OIIM) declined Friday to its lowest level since 2006 after investment banking firm Needham & Co. downgraded it from “strong buy” to “buy.” The Cayman Islands-based power management and security components developer dropped to $6.27, from Thursday’s close of $7.36. By midday, the stock had recovered some of its losses, trading at $6.38, down about 13%.

For detailed price information and recent news stories on O2Micro International Limited, click OIIM.