Sector Wrap - Semis Lower: NVLS, NETL, LLTC

Published on Thursday, 21 June 2012 16:51 Written by Christopher Lynn

New York, June 21st (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $372.71, representing -4.09% from its previous close. The semiconductor index tumbled with 26 index components on the negative side.

Novellus Systems (NASDAQ:NVLS) was the top performer of the semis, as it traded at $40.39, which represents 0%. from the previous trading session. Shares of Novellus Systems, the equipment maker used for chips manufacturing have defined support at $41.80 and resistance at $47.32.

() was also among the top performers, closing the trading session at $50 representing 0% from its previous close. , the has calculated support and resistance levels at $28.72 and $48.39 respectively. The other top performer of the semis was Linear Technology (NASDAQ:LLTC), which traded at $30.54 representing -1.58% from the previous trading session.

The semis' worst performers include Micron Technology (NASDAQ:MU) that traded at $5.7 or -6.86% from the previous close. Shares of Micron Technology, the dynamic random access memory chips maker have defined support at $5.65 and resistance at $6.04. Also among the worst performers was Cirrus Logic (NASDAQ:CRUS), which closed at $28.52 representing -5.91% from the previous trading session.

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