Sector Wrap - Semis Higher: MRVL, MU, CRUS

Published on Friday, 08 March 2013 16:51 Written by Christopher Lynn

New York, March 8th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $435.25, representing 0.13% from its previous close. The semiconductor index exhibited strong upside with 19 index components on the plus side.

Marvell (NASDAQ:MRVL) was the top performer of the semis, as it traded at $10.76, which represents 3.78%. 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 $10.38.

Micron Technology (NASDAQ:MU) was also among the top performers, closing the trading session at $9.08 representing 1.57% from its previous close. Micron Technology, the dynamic random access memory chips maker has calculated support and resistance levels at $7.64 and $8.50 respectively. The other top performer of the semis was Cirrus Logic (NASDAQ:CRUS), which traded at $23.32 representing 1.56% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that traded at $5.21 or -3.16% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $4.60 and resistance at $5.10. Also among the worst performers was Cree (NASDAQ:CREE), which closed at $52.06 representing -1.49% from the previous trading session.

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