Sector Mid-Day Wrap - Semis Higher: CRUS, SNDK, POWI

Published on Monday, 27 June 2011 11:52 Written by Gerard Lerod

New York, June 27th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $393.35, representing 0.22% from its previous close. The semiconductor index is exhibiting strong upside with 18 index components on the plus side.

Cirrus Logic (NASDAQ:CRUS) is the top performer of the semis, trading at $14.58, which represents 2.75%. from the previous trading session. Shares of Cirrus Logic, the provider of high-precision analog and mixed-signal, and embedded processors for audio and industrial markets have defined support at $13.13 and resistance at $14.40.

SanDisk (NASDAQ:SNDK) is also among the top performers, currently trading at $39.94 representing 2.57% from its previous close. SanDisk, the provider of flash data storage products has calculated support and resistance levels at $40.68 and $43.78 respectively. The other top performer of the semis is Power Integrations (NASDAQ:POWI), which is trading at $37.42 representing 1.93% from the previous trading session.

The semis' worst performers include Broadcom (NASDAQ:BRCM) that is trading at $31.8 or -1.31% from the previous close. Shares of Broadcom, the provider of chips that enable broadband digital data transmission have defined support at $30.71 and resistance at $32.89. Also among the worst performers is NVIDIA (NASDAQ:NVDA), which is currently trading at $15.54 representing -1.27% from the previous trading session.

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