Sector Wrap - Semis Higher: CRUS, STM, TSM

Published on Thursday, 10 January 2013 16:51 Written by Christopher Lynn

New York, January 10th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $400.73, representing 1.33% from its previous close. The semiconductor index exhibited strong upside with 23 index components on the plus side.

Cirrus Logic (NASDAQ:CRUS) was the top performer of the semis, as it traded at $31.54, which represents 4.4%. 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 $26.25 and resistance at $30.80.

STMicroelectronics (NYSE:STM) was also among the top performers, closing the trading session at $7.97 representing 4.32% from its previous close. STMicroelectronics, the semiconductor integrated circuits and discrete devices maker has calculated support and resistance levels at $5.31 and $7.47 respectively. The other top performer of the semis was Taiwan Semiconductor (NYSE:TSM), which traded at $18.08 representing 3.08% from the previous trading session.

The semis' worst performers include Veeco Instruments (NASDAQ:VECO) that traded at $30 or -4.31% from the previous close. Shares of Veeco Instruments, the provider of process equipment solutions have defined support at $27.81 and resistance at $31.40. Also among the worst performers was Cree (NASDAQ:CREE), which closed at $31.86 representing -0.78% from the previous trading session.

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