NEW YORK (TheStreet) -- In my first post of the day I cover the 26 components of the PHLX Semiconductor Sector Index
The daily chart of the semiconductor index shows overbought momentum with the index above its 21-day, 50-day and 200-day simple moving averages at 479.50, 476.97 and 444.39. This week's value level is 479.94 with monthly and semiannual risky levels at 516.08 and 533.56.
Chart Courtesy of Thomson/ReutersThe overall market remains under a ValuEngine valuation warning with 77.1% of all stocks overvalued 43.9% by 20% or more. The computer and technology sector is one of ten sectors overvalued by more than 20%. Three of the 10 stocks shown in this table are undervalued with four overvalued by more than 20%. Nine have buy ratings and one has a hold rating. Three are lower in price over the last 12 months with Entropic Communications (ENTR) down 29.1% and Peregrine Semiconductors (PSMI) down 49.9%. Among the seven higher over the last 12 months Semiconductor Manufacturing (SMI) gained 95.6%. Three are trading below their 200-day SMAs therefore the seven that are above their 200-day SMAs have risk of a reversion to the mean.
Reading the TableOV/UN Valued: Stocks with a red number are undervalued by this percentage. Those with a black number are overvalued by that percentage according to ValuEngine. VE Rating: A "1-engine" rating is a strong sell, a "2-engine" rating is a sell, a "3-engine" rating is a hold, a "4-engine" rating is a buy and a "5-engine" rating is a strong buy. Last 12-Month Return (%): Stocks with a red number declined by that percentage over the last 12 months. Stocks with a black number increased by that percentage. Forecast 1-Year Return: Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months.
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