Semiconductor Equipment Makers Take It On The Chin
Nicholas Santiago | Mar 15, 2013 01:59PM ET
This morning, the leading semiconductor equipment makers are declining sharply lower. One of the top stocks leading the decline in the industry group is KLA-Tencor Corporation (KLAC). Today, KLAC stock is declining lower by $2.24 to $52.69 a share. This stock has also seen some heavy insider selling by the CEO in the month of March. Traders should watch for intra-day chart support around the $51.50 level. There should be some short term daily chart support around the $49.50 levels.
Some other leading semiconductor equipment makers that are also falling today include Lam Research Corp (LRCX), Applied Materials Inc (AMAT), and Nanometrics Inc (NANO). Weakness in these stocks will also affect the price in the Market Vectors Semiconductor ETF (SMH) which holds many leading stocks in the sector.
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