Sector Wrap - Semis Lower: MRVL, HITT, NETL
Published on Thursday, 21 February 2013 16:51 Written by Christopher Lynn
New York, February 21st (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $416.29, representing -1.81% from its previous close. The semiconductor index tumbled with 27 index components on the negative side.
Marvell (NASDAQ:MRVL) was the top performer of the semis, as it traded at $9.3, which represents 0.65%. from the previous trading session. Shares of Marvell, the maker of integrated circuits for communications-related markets have defined support at $6.98 and resistance at $9.56.
Hittite Microwave (NASDAQ:HITT) was also among the top performers, closing the trading session at $64.66 representing -0.12% from its previous close. Hittite Microwave, the maker of integrated circuits, modules, subsystems and instrumentation for technically demanding radio frequency, microwave and millimeterwave applications has calculated support and resistance levels at $58.37 and $66.48 respectively. The other top performer of the semis was (), which traded at $26.95 representing -0.33% from the previous trading session.
The semis' worst performers include Rubicon Technology (NASDAQ:RBCN) that traded at $4.96 or -14.04% from the previous close. Shares of Rubicon Technology, the high-quality sapphire substrates and optical windows have defined support at $5.31 and resistance at $6.10. Also among the worst performers was MEMC Electronic Materials (NYSE:WFR), which closed at $4.77 representing -9.14% from the previous trading session.
Today, the semis underperformed the broad market index S&P 500.
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