Sector Wrap - Semis Higher: STM, CRUS, LRCX

Published on Tuesday, 17 January 2012 16:51 Written by Christian Paolinetti

New York, January 17th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $385.22, representing 0.46% from its previous close. The semiconductor index exhibited strong upside with 20 index components on the plus side.

STMicroelectronics (NYSE:STM) was the top performer of the semis, as it traded at $6.73, which represents 7.34%. from the previous trading session. Shares of STMicroelectronics, the semiconductor integrated circuits and discrete devices maker have defined support at $5.34 and resistance at $6.48.

Cirrus Logic (NASDAQ:CRUS) was also among the top performers, closing the trading session at $20.25 representing 4.29% 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 $20.60 respectively. The other top performer of the semis was Lam Research (NASDAQ:LRCX), which traded at $40.07 representing 4.08% from the previous trading session.

The semis' worst performers include Rubicon Technology (NASDAQ:RBCN) that traded at $11.1 or -2.2% from the previous close. Shares of Rubicon Technology, the high-quality sapphire substrates and optical windows have defined support at $9.11 and resistance at $11.86. Also among the worst performers was Marvell (NASDAQ:MRVL), which closed at $14.46 representing -2.17% from the previous trading session.

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