Cirrus Logic - Top Performing Semiconductor - Mid-Day Update

Published on Wednesday, 11 July 2012 11:52 Written by Gerard Lerod

New York, July 11th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading lower at $361.36, representing -0.45% from its previous close. The semiconductor index is having an overall mixed day with 15 index components trading higher.

Cirrus Logic (NASDAQ:CRUS) is the top performer of the semis, trading at $26.58, which represents 2.5%. from the previous trading session. Shares of Cirrus Logic, the provider of high-precision analog and mixed-signal, and embedded processors for audio and industrial markets have defined support at $27.91 and resistance at $30.22.

MEMC Electronic Materials (NYSE:WFR) is also among the top performers, currently trading at $2.32 representing 2.2% from its previous close. MEMC Electronic Materials, the silicon wafers producer has calculated support and resistance levels at $2.02 and $2.69 respectively. The other top performer of the semis is Rubicon Technology (NASDAQ:RBCN), which is trading at $11.46 representing 1.69% from the previous trading session.

The semis' worst performers include Intel (NASDAQ:INTC) that is trading at $25.56 or -2.33% from the previous close. Shares of Intel, the largest chipmaker in the world have defined support at $25.45 and resistance at $26.86. Also among the worst performers is Cree (NASDAQ:CREE), which is currently trading at $23.07 representing -1.54% from the previous trading session.

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