Micron Technology - Worst Performing Semiconductor - Mid-Day Update

Published on Friday, 24 June 2011 11:52 Written by Christopher Lynn

New York, June 24th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading flat at $0, representing 0% from its previous close. The semiconductor index is tumbling with 23 index components on the negative side.

Power Integrations (NASDAQ:POWI) is the top performer of the semis, trading at $36.94, which represents 0.68%. from the previous trading session. Shares of Power Integrations, the maker of proprietary, high-voltage, analog integrated circuits for use in ac to dc conversion have defined support at $34.44 and resistance at $37.60.

Xilinx (NASDAQ:XLNX) is also among the top performers, currently trading at $35.11 representing 0.4% from its previous close. Xilinx, the advanced integrated circuits maker has calculated support and resistance levels at $33.15 and $35.98 respectively. The other top performer of the semis is Hittite Microwave (NASDAQ:HITT), which is trading at $59.87 representing 0.34% from the previous trading session.

The semis' worst performers include Micron Technology (NASDAQ:MU) that is trading at $7.3 or -13.39% from the previous close. Shares of Micron Technology, the dynamic random access memory chips maker have defined support at $7.64 and resistance at $10.23. Also among the worst performers is SanDisk (NASDAQ:SNDK), which is currently trading at $40.62 representing -5.27% from the previous trading session.

Today, the Semis are outperforming the broad market index S&P 500.