Semis Outperfomed the S&P 500 :MU, POWI, VECO

Published on Friday, 08 June 2012 16:51 Written by Danny Miller

New York, June 8th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $372.69, representing 1.42% from its previous close. The semiconductor index had a broad rally with 26 index components trading higher.

Micron Technology (NASDAQ:MU) was the top performer of the semis, as it traded at $5.86, which represents 3.33%. from the previous trading session. Shares of Micron Technology, the dynamic random access memory chips maker have defined support at $5.30 and resistance at $6.15.

Power Integrations (NASDAQ:POWI) was also among the top performers, closing the trading session at $41.39 representing 3.14% from its previous close. Power Integrations, the maker of proprietary, high-voltage, analog integrated circuits for use in ac to dc conversion has calculated support and resistance levels at $39.19 and $44.62 respectively. The other top performer of the semis was Veeco Instruments (NASDAQ:VECO), which traded at $34.56 representing 3.1% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that traded at $1.68 or -2.33% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $1.44 and resistance at $1.74. Also among the worst performers was Taiwan Semiconductor (NYSE:TSM), which closed at $13.45 representing -0.66% from the previous trading session.

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