Sector Wrap - Semis Lower: KLAC, AVGO, NVLS

Published on Tuesday, 10 July 2012 16:51 Written by Gerard Lerod

New York, July 10th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $363.02, representing -2.27% from its previous close. The semiconductor index tumbled with 24 index components on the negative side.

KLA-Tencor (NASDAQ:KLAC) was the top performer of the semis, as it traded at $46.07, which represents 0.99%. from the previous trading session. Shares of KLA-Tencor, the maker of yield management and process monitoring systems for the semiconductor industry have defined support at $46.75 and resistance at $49.50.

Avago (NASDAQ:AVGO) was also among the top performers, closing the trading session at $33.43 representing 0.42% from its previous close. Avago, the supplier of analog interface components for communications, industrial and consumer applications has calculated support and resistance levels at $32.66 and $36.19 respectively. The other top performer of the semis was Novellus Systems (NASDAQ:NVLS), which traded at $40.39 representing 0% from the previous trading session.

The semis' worst performers include Advanced Micro Devices (NYSE:AMD) that traded at $5.03 or -10.59% from the previous close. Shares of Advanced Micro Devices, the second largest chipmaker in the world have defined support at $5.32 and resistance at $6.08. Also among the worst performers was Cirrus Logic (NASDAQ:CRUS), which closed at $25.93 representing -8.67% from the previous trading session.

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