STMicroelectronics - Worst Performing Semiconductor - Mid-Day Update

Published on Tuesday, 31 January 2012 11:52 Written by Christian Paolinetti

New York, January 31st (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading lower at $408.15, representing -0.14% from its previous close. The semiconductor index is having an overall mixed day with 13 index components trading higher.

Cree (NASDAQ:CREE) is the top performer of the semis, trading at $25.74, which represents 0.98%. 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 $22.45 and resistance at $27.48.

Broadcom (NASDAQ:BRCM) is also among the top performers, currently trading at $34.78 representing 0.94% from its previous close. Broadcom, the provider of chips that enable broadband digital data transmission has calculated support and resistance levels at $27.59 and $36.12 respectively. The other top performer of the semis is Novellus Systems (NASDAQ:NVLS), which is trading at $47.21 representing 0.58% from the previous trading session.

The semis' worst performers include STMicroelectronics (NYSE:STM) that is trading at $6.66 or -3.2% from the previous close. Shares of STMicroelectronics, the semiconductor integrated circuits and discrete devices maker have defined support at $6.63 and resistance at $7.14. Also among the worst performers is MEMC Electronic Materials (NYSE:WFR), which is currently trading at $4.66 representing -3.12% from the previous trading session.

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