Semis Underperfomed the S&P 500 :NVLS, LRCX, CREE

Published on Wednesday, 21 December 2011 16:51 Written by Christian Paolinetti

New York, December 21st (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $354.45, representing -1.19% from its previous close. The semiconductor index tumbled with 23 index components on the negative side.

Novellus Systems (NASDAQ:NVLS) was the top performer of the semis, as it traded at $40.77, which represents 1.98%. from the previous trading session. Shares of Novellus Systems, the equipment maker used for chips manufacturing have defined support at $34.59 and resistance at $42.50.

Lam Research (NASDAQ:LRCX) was also among the top performers, closing the trading session at $36.71 representing 1.83% from its previous close. Lam Research, the maker of semiconductor processing equipment has calculated support and resistance levels at $34.81 and $43.67 respectively. The other top performer of the semis was Cree (NASDAQ:CREE), which traded at $20.77 representing 1.37% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that traded at $3.79 or -5.49% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $3.65 and resistance at $4.64. Also among the worst performers was Micron Technology (NASDAQ:MU), which closed at $5.54 representing -4.32% from the previous trading session.

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