STMicroelectronics - Worst Performing Semiconductor - Mid-Day Update

Published on Friday, 03 February 2012 11:52 Written by Danny Miller

New York, February 3rd (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $427.51, representing 1.65% from its previous close. The semiconductor index is having a broad rally with 26 index components trading higher.

Power Integrations (NASDAQ:POWI) is the top performer of the semis, trading at $39.19, which represents 5.75%. from the previous trading session. Shares of Power Integrations, the maker of proprietary, high-voltage, analog integrated circuits for use in ac to dc conversion have defined support at $35.80 and resistance at $37.96.

Veeco Instruments (NASDAQ:VECO) is also among the top performers, currently trading at $27.25 representing 5.5% from its previous close. Veeco Instruments, the provider of process equipment solutions has calculated support and resistance levels at $23.70 and $26.57 respectively. The other top performer of the semis is Rubicon Technology (NASDAQ:RBCN), which is trading at $11.86 representing 2.68% from the previous trading session.

The semis' worst performers include STMicroelectronics (NYSE:STM) that is trading at $6.96 or -0.5% from the previous close. Shares of STMicroelectronics, the semiconductor integrated circuits and discrete devices maker have defined support at $6.62 and resistance at $7.14. Also among the worst performers is MEMC Electronic Materials (NYSE:WFR), which is currently trading at $5.12 representing -0.39% from the previous trading session.

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