Sector Wrap - Semis Lower: WFR, CRUS, INTC

Published on Thursday, 14 June 2012 16:51 Written by Gerard Lerod

New York, June 14th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $369.15, representing -0.17% from its previous close. The semiconductor index had a negative day with only 10 index components trading higher.

MEMC Electronic Materials (NYSE:WFR) was the top performer of the semis, as it traded at $2, which represents 6.38%. from the previous trading session. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $1.44 and resistance at $1.74.

Cirrus Logic (NASDAQ:CRUS) was also among the top performers, closing the trading session at $28.72 representing 2.64% from its previous close. Cirrus Logic, the provider of high-precision analog and mixed-signal, and embedded processors for audio and industrial markets has calculated support and resistance levels at $27.23 and $29.44 respectively. The other top performer of the semis was Intel (NASDAQ:INTC), which traded at $26.83 representing 1.09% from the previous trading session.

The semis' worst performers include Avago (NASDAQ:AVGO) that traded at $32.86 or -3.47% from the previous close. Shares of Avago, the supplier of analog interface components for communications, industrial and consumer applications have defined support at $30.18 and resistance at $34.26. Also among the worst performers was SanDisk (NASDAQ:SNDK), which closed at $35.25 representing -2.14% from the previous trading session.

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