Sector Mid-Day Wrap - Semis Higher: STM, BRCM, WFR

Published on Wednesday, 01 February 2012 11:52 Written by Christopher Lynn

New York, February 1st (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $418.27, representing 2.28% from its previous close. The semiconductor index is having a broad rally with 26 index components trading higher.

STMicroelectronics (NYSE:STM) is the top performer of the semis, trading at $7.04, which represents 5.39%. from the previous trading session. Shares of STMicroelectronics, the semiconductor integrated circuits and discrete devices maker have defined support at $6.63 and resistance at $7.14.

Broadcom (NASDAQ:BRCM) is also among the top performers, currently trading at $36 representing 4.8% from its previous close. Broadcom, the provider of chips that enable broadband digital data transmission has calculated support and resistance levels at $34.02 and $36.12 respectively. The other top performer of the semis is MEMC Electronic Materials (NYSE:WFR), which is trading at $4.77 representing 4.38% from the previous trading session.

The semis' worst performers include Advanced Micro Devices (NYSE:AMD) that is trading at $6.71 or -0.45% from the previous close. Shares of Advanced Micro Devices, the second largest chipmaker in the world have defined support at $4.82 and resistance at $6.95. Also among the worst performers is Hittite Microwave (NASDAQ:HITT), which is currently trading at $54.85 representing -0.31% from the previous trading session.

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