STMicroelectronics - Worst Performing Semiconductor - Mid-Day Update

Published on Wednesday, 11 January 2012 11:52 Written by Gerard Lerod

New York, January 11th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $387.02, representing 0.19% from its previous close. The semiconductor index is exhibiting strong upside with 19 index components on the plus side.

MEMC Electronic Materials (NYSE:WFR) is the top performer of the semis, trading at $4.45, which represents 13.81%. from the previous trading session. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $3.77 and resistance at $4.17.

Cirrus Logic (NASDAQ:CRUS) is also among the top performers, currently trading at $20.14 representing 2.52% 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 $16.57 respectively. The other top performer of the semis is Novellus Systems (NASDAQ:NVLS), which is trading at $44 representing 1.97% from the previous trading session.

The semis' worst performers include STMicroelectronics (NYSE:STM) that is trading at $6.25 or -3.33% from the previous close. Shares of STMicroelectronics, the semiconductor integrated circuits and discrete devices maker have defined support at $5.34 and resistance at $6.47. Also among the worst performers is Marvell (NASDAQ:MRVL), which is currently trading at $15.15 representing -3.01% from the previous trading session.

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