Sector Wrap - Semis Lower: CREE, CRUS, TSM

Published on Tuesday, 27 December 2011 16:51 Written by Christian Paolinetti

New York, December 27th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $368.02, representing -0.16% from its previous close. The semiconductor index had an overall mixed day with 17 index components trading higher.

Cree (NASDAQ:CREE) was the top performer of the semis, as it traded at $21.89, which represents 1.06%. from the previous trading session. Shares of Cree, the maker of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power applications have defined support at $20.25 and resistance at $23.72.

Cirrus Logic (NASDAQ:CRUS) was also among the top performers, closing the trading session at $16.29 representing 0.93% from its previous close. Cirrus Logic, the provider of high-precision analog and mixed-signal, and embedded processors for audio and industrial markets has calculated support and resistance levels at $14.75 and $15.90 respectively. The other top performer of the semis was Taiwan Semiconductor (NYSE:TSM), which traded at $13.02 representing 0.77% from the previous trading session.

The semis' worst performers include Rubicon Technology (NASDAQ:RBCN) that traded at $9.26 or -4.04% from the previous close. Shares of Rubicon Technology, the high-quality sapphire substrates and optical windows have defined support at $8.90 and resistance at $11.17. Also among the worst performers was Micron Technology (NASDAQ:MU), which closed at $6.25 representing -2.27% from the previous trading session.

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