Sector Wrap - Semis Lower: MRVL, NVDA, AMD

Published on Monday, 23 January 2012 16:51 Written by Danny Miller

New York, January 23rd (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $413.09, representing -0.3% from its previous close. The semiconductor index had an overall mixed day with 13 index components trading higher.

Marvell (NASDAQ:MRVL) was the top performer of the semis, as it traded at $15.97, which represents 2.83%. from the previous trading session. Shares of Marvell, the maker of integrated circuits for communications-related markets have defined support at $14.37 and resistance at $15.63.

NVIDIA (NASDAQ:NVDA) was also among the top performers, closing the trading session at $14.61 representing 2.74% from its previous close. NVIDIA, the world leader in visual computing technologies has calculated support and resistance levels at $13.50 and $14.82 respectively. The other top performer of the semis was Advanced Micro Devices (NYSE:AMD), which traded at $6.52 representing 1.56% from the previous trading session.

The semis' worst performers include Veeco Instruments (NASDAQ:VECO) that traded at $25.13 or -4.63% from the previous close. Shares of Veeco Instruments, the provider of process equipment solutions have defined support at $20.57 and resistance at $23.75. Also among the worst performers was Applied Materials (NASDAQ:AMAT), which closed at $12.22 representing -2% from the previous trading session.

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