Themes / Group
Inactive · established relationshipLatest completed snapshot · Aug 20 · 16:27 ET

MARKET-DISCOVERED GROUP

Semiconductor Solutions

THE TRADER READBroad price confirmation, weak flow alignment

11 of 11 measured SPY-adjusted paths align to the upside across 8.3 effective names. Capital-flow agreement is 21%, so the basket is not yet clean. No verified headline preceded the measured move.

Price breadth11 of 11 rising+0.5% median path versus SPY
Capital-flow alignment21%Price breadth is not yet confirmed by flow
Activity nowCalmActivity score 8/100 · lift 0.8×
Evidence depth5 episodes13 observed active sessions
EVIDENCE CLOCK

What happened, in timestamp order

4 timed events · 15:35–15:55 ET
TIMING READNo verified timestamped headline was found within 24 hours of the first measured price move in the available common-bar window. The move currently reads as market-led or unexplained.
  1. 5-minute inferenceON registered the first material upside path

    +0.57% session path at the threshold · ON

  2. 5-minute inferenceDIOD registered a material upside path

    +0.36% session path at the threshold · DIOD

  3. 5-minute inferenceAVT registered a material upside path

    +0.67% session path at the threshold · AVT

  4. 5-minute inferenceNXPI registered a material upside path

    +0.36% session path at the threshold · NXPI

2 earlier filing context receipts

THU, FEB 5POWI filing documented shared operating contextdemand / volume affecting revenue · date precision only

TUE, AUG 18ADI filing documented shared operating contextdemand / volume affecting revenue · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.
THEME CONSTRUCTION

Broad move or one-stock disguise?

SPY-adjusted 5m paths

Observed movement is broad across 8.3 effective names. ON represents 18.2% of absolute path energy; 11 of 11 members align with the up relative path.

ConstructionBroad18.2% from the largest path
Effective names8.3 / 11Movement diversity after concentration
Direction breadth11/11 alignedupside relative path · 0 counter-moving
Largest moverON 18.2%34.0% from the top two paths
ON18.2%Aligned contributor · path +1.06% · basket +0.10pp
DIOD15.8%Aligned contributor · path +0.93% · basket +0.08pp
AVT13.9%Aligned contributor · path +0.82% · basket +0.07pp
NXPI12.2%Aligned contributor · path +0.72% · basket +0.07pp
ADI10.3%Aligned contributor · path +0.60% · basket +0.06pp
ARW8.4%Aligned contributor · path +0.49% · basket +0.04pp
LFUS5.9%Aligned contributor · path +0.34% · basket +0.03pp
MCHP5.5%Aligned contributor · path +0.32% · basket +0.03pp
TXN4.9%Aligned contributor · path +0.29% · basket +0.03pp
POWI2.9%Aligned contributor · path +0.17% · basket +0.02pp
PLXS2.1%Aligned contributor · path +0.13% · basket +0.01pp
Top six names by movement share are shown. Movement share measures absolute 5-minute path energy; signed basket contribution is equal-weight. Neither is a portfolio weight or causal attribution.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
HOW THE PRICE MOVE SPREAD

Observed session sequence

5-minute bars · inferred
  1. ON moved higher firstFirst member to clear the material path threshold · path +0.57%
  2. DIOD registered a material higher path5m after the first price move · path +0.36%
  3. AVT registered a material higher path5m after the first price move · path +0.67%
  4. NXPI registered a material higher path5m after the first price move · path +0.36%
  5. ADI registered a material higher path5m after the first price move · path +0.39%
  6. ARW registered a material higher path10m after the first price move · path +0.49%

Sequence inferred from aligned 5-minute price paths; it is not a causal ordering.

RELATIVE CO-MOVEMENT

How the members are behaving together

SPY-adjusted
Sep 11 · 15:35 ETMove visible 15:55 ETSep 11 · 15:55 ET
Group median +0.49%Strongest relative path ONWeakest relative path PLXS

Observed member paths adjusted against SPY. The dashed marker shows when the median move first cleared a material threshold; shading marks the latest 20% of the observed window.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

11/11 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across ADI, ARW, AVT, DIOD, LFUS, MCHP, NXPI, ON, TXN.

demand / volume affecting revenue

“Any deterioration in these end markets, reductions in the magnitude of revenue streams, our inability to meet design and pricing requirements, or volatility in demand for our products could lead to a reduction in our revenue and adversely affect our operating results.”

POWI 10-K · 2026-02-06
restructuring affecting expense

“The following table compares R&D expenses for the three and six months ended June 30, 2026 and 2025: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2026 2025 2026 2025 Research and development expenses $ 27.2 $ 26.0 $ 53.4 $ 50.1 R&D expenses increased for the three and six months ended June 30, 2026 compared to the corresponding period of 2025, primarily due to application engineer project costs related to customer product development projects as described in Note 13 Restructuring of this report, as well as increased product-development expenses.”

POWI 10-Q · 2026-08-06
restructuring

“Any restructuring initiatives could result in potential adverse effects on employee capabilities; our continued ability to recruit, hire, retain and motivate highly skilled personnel; our ability to maintain and grow our customer base; or our ability to effectively operate other aspects of our business.”

POWI 10-K · 2026-02-06
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming
TLN → BNDInverse historical lead/lag · strength -0.26
TLN → SLVInverse historical lead/lag · strength -0.31

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

SLABNot confirming

TXN · text peer

AOSLNot confirming

ON · text peer

SYNANot confirming

ADI · text peer

SMTCNot confirming

TXN · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
POWIADITXNPLXSNXPIDIODONAVTLFUSMCHPARW

5/11 active11 rising · 0 falling

MemberUnusual activityToday's moveRead now
POWIPower Integrations, Inc.
Most unusual · 100/100
+5.2%
Aligned path contributorActive in 38.5% of observed group sessions
ADIAnalog Devices, Inc.
Elevated · 95/100
+4.9%
Aligned price + flowActive in 7.7% of observed group sessions
TXNTexas Instruments Incorporated
Elevated · 75/100
+3.8%
Aligned price + flowActive in 15.4% of observed group sessions
PLXSPlexus Corp.
Elevated · 62/100
+3.4%
Aligned path contributorActive in 15.4% of observed group sessions
NXPINXP Semiconductors N.V.
Elevated · 60/100
+4.5%
Aligned price + flowActive in 23.1% of observed group sessions
DIODDiodes Incorporated
Quiet · 59/100
+3.7%
Watch / laggardActive in 15.4% of observed group sessions
ONON Semiconductor Corporation
Quiet · 58/100
+8.5%
Watch / laggardActive in 30.8% of observed group sessions
AVTAvnet, Inc.
Quiet · 57/100
+7.1%
Watch / laggardActive in 46.2% of observed group sessions
LFUSLittelfuse, Inc.
Quiet · 56/100
+4.7%
Watch / laggardActive in 30.8% of observed group sessions
MCHPMicrochip Technology Incorporated
Quiet · 50/100
+3.7%
Watch / laggardActive in 53.8% of observed group sessions
ARWArrow Electronics, Inc.
Quiet · 40/100
+6.9%
Watch / laggardActive in 30.8% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
POWIPower Integrations, Inc.Most unusual+5.2%38.5% of 13 sessionsMost unusual activity in this snapshot; performance direction may differ.
ADIAnalog Devices, Inc.Participating+4.9%7.7% of 13 sessionsPrice participation with distributing signed flow.
TXNTexas Instruments IncorporatedParticipating+3.8%15.4% of 13 sessionsPrice participation with distributing signed flow.
PLXSPlexus Corp.Participating+3.4%15.4% of 13 sessionsPrice participation is not yet confirmed by per-name flow.
NXPINXP Semiconductors N.V.Participating+4.5%23.1% of 13 sessionsPrice participation with distributing signed flow.
DIODDiodes IncorporatedQuiet / lagging+3.7%15.4% of 13 sessionsNot participating yet; a breadth test or a genuine divergence.
ONON Semiconductor CorporationQuiet / lagging+8.5%30.8% of 13 sessionsNot participating yet; a breadth test or a genuine divergence.
AVTAvnet, Inc.Quiet / lagging+7.1%46.2% of 13 sessionsNot participating yet; a breadth test or a genuine divergence.
LFUSLittelfuse, Inc.Quiet / lagging+4.7%30.8% of 13 sessionsNot participating yet; a breadth test or a genuine divergence.
MCHPMicrochip Technology IncorporatedQuiet / lagging+3.7%53.8% of 13 sessionsNot participating yet; a breadth test or a genuine divergence.
ARWArrow Electronics, Inc.Quiet / lagging+6.9%30.8% of 13 sessionsNot participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Early observed follow-through

2/2 events completed
30 minutes+0.12%50% continuation · n=2Median MFE +1.01% · MAE -0.69%
60 minutes-0.02%50% continuation · n=2Median MFE +1.01% · MAE -0.69%
Session close+0.51%50% continuation · n=2Median MFE +1.01% · MAE -0.69%
Next-session close+0.10%50% continuation · n=2Median MFE +1.01% · MAE -0.69%
Only point-in-time live watcher observations and conservative same-day EOD observations are included. Later backfills and replay runs are excluded.
moderate structural support

5 completed episodes across 13 active sessions provide moderate historical support. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support35 daysHow often the cohort identity was observed
Completed episodes5Separate periods of broad group activity
Active sessions13Completed session observations, not trades
2026-08-18 → 2026-08-192 active sessions25% composition consistency through the episode
2026-07-27 → 2026-08-106 active sessionsNo name was active through every recorded session
2026-07-14 → 2026-07-172 active sessions11.1% composition consistency through the episode
2026-07-071 active session100% composition consistency through the episode
2026-07-01 → 2026-07-022 active sessionsNo name was active through every recorded session
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
MCHP53.8% · 3 episodes
AVT46.2% · 3 episodes
POWI38.5% · 2 episodes
ARW30.8% · 3 episodes
LFUS30.8% · 2 episodes
ON30.8% · 4 episodes
NXPI23.1% · 1 episode
DIOD15.4% · 2 episodes
PLXS15.4% · 2 episodes
TXN15.4% · 2 episodes
ADI7.7% · 1 episode