Semis Outperfomed the S&P 500 :TER, VECO, BRCM

Published on Thursday, 02 September 2010 18:12 Written by Christopher Lynn

New York, September 2nd (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $323.32, representing 2.07% from its previous close. The semiconductor index had a broad rally with 28 index components trading higher.

Teradyne (NYSE:TER) was the top performer of the semis, as it traded at $9.79, which represents 5.72%. from the previous trading session. Shares of Teradyne, the semiconductor test equipment maker have defined support at $8.84 and resistance at $9.48.

Veeco Instruments (NASDAQ:VECO) was also among the top performers, closing the trading session at $36.2 representing 5.32% from its previous close. Veeco Instruments, the provider of process equipment solutions has calculated support and resistance levels at $30.25 and $35.32 respectively. The other top performer of the semis was Broadcom (NASDAQ:BRCM), which traded at $32.71 representing 5.24% from the previous trading session.

The semis' worst performers include Cree (NASDAQ:CREE) that traded at $54.62 or -1.23% from the previous close. Shares of Cree, the maker of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power applications have defined support at $53.10 and resistance at $61.86. Also among the worst performers was Taiwan Semiconductor (NYSE:TSM), which closed at $9.47 representing -1.15% from the previous trading session.

Today, the semis outperformed the broad market index S&P 500.