Stocks making the biggest moves midday: AeroVironment, Abivax, Astera Labs, Watts Water Technologies & more

Here are the companies making headlines in midday trading. Semiconductor stocks – Chip companies rallied as the VanEck Semiconductor ETF (SMH) headed toward its best quarter on record. The chip ETF is on pace for a 70% surge in the second quarter, and it was last up more than 3% on the day. Astera Labs jumped 7% in the session, while KLA Corp rose 8% and Applied Materials gained 5%. Watts Water Technologies – The manufacturer of water valves and hot water solutions jumped more than 7% on the back of an upgrade to overweight from Barclays. The firm said that Watts is "best positioned" in its waste and water tech coverage group to benefit from the data center capital expenditures cycle as it grows its portfolio of products that serve data center plumbing, drainage and cooling needs. Abivax – U.S.-traded shares of the French biotech company surged 40%. Abivax issued new data on its ulcerative colitis treatment, showing malignancies were in line with expected rates. The company also said that more than 37% of patients who initially didn't respond to treatment saw clinical remission after about 10 months of treatment with a 50 mg dose. SolarEdge – The manufacturer of inverter systems jumped 7% after Reuters reported , citing people familiar, that the Trump administration is working on a ban against imports of foreign inverters. Enphase Energy rose 2%. …