Sector Wrap - Semis Higher: CRUS, AVGO, POWI

Published on Tuesday, 28 June 2011 16:51 Written by Gerard Lerod

New York, June 28th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $400.51, representing 1.33% from its previous close. The semiconductor index had a broad rally with all Index components on the positive side.

Cirrus Logic (NASDAQ:CRUS) was the top performer of the semis, as it traded at $15.37, which represents 5.35%. 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 $14.84.

Avago (NASDAQ:AVGO) was also among the top performers, closing the trading session at $36.88 representing 4.03% from its previous close. Avago, the supplier of analog interface components for communications, industrial and consumer applications has calculated support and resistance levels at $32.19 and $36.29 respectively. The other top performer of the semis was Power Integrations (NASDAQ:POWI), which traded at $38.01 representing 2.37% from the previous trading session.

The semis' worst performers include Marvell (NASDAQ:MRVL) that traded at $14.15 or 0.07% from the previous close. Shares of Marvell, the maker of integrated circuits for communications-related markets have defined support at $13.17 and resistance at $14.54. Also among the worst performers was Micron Technology (NASDAQ:MU), which closed at $7.35 representing 0.14% from the previous trading session.

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