Intel Has Led 13 Stocks in the SOX Higher

NEW YORK (TheStreet) -- The PHLX Semiconductor Index was a market leader in 2013 with a gain of 39.3% for the year. That leadership has continued in the first half of January as the SOX set a new multiyear intra-day high at 540.14 on Tuesday.

I consider Intel Corp (INTC) the benchmark semiconductor company given its status as a Nasdaq stock and a component of both the Dow Jones Industrial Average and the S&P 500. Intel reports fourth-quarter earnings after-hours on Thursday under the cloud of a shrinking market for PCs and has been downgraded to hold from buy this morning according to www.ValuEngine.com.

Intel's former archrival, Advanced Micro Devices (AMD) was one of my stocking-stuffer stocks profiled in Consider Buy Rated Stocks Under Five Bucks as Stocking Stuffers posted on Dec. 23. AMD, which reports its quarterly results next Tuesday, is up 16.5% since Dec. 22.

Others that report quarterly results next week are Texas Instruments (TXN), Cree Inc.  (CREE), SanDisk (SNDK) and KLA-Tencor (KLAC) , and so by a week from today, we will have considerable evidence on whether the SOX can continue to lead.

The SOX ($539.61) has a positive but overbought weekly chart profile with its five-week modified-moving average at 523.14. My semiannual value level is 490.52, with weekly and quarterly pivots at 531.54 and 536.98 and monthly and semiannual risky levels at 544.70 and 548.36.

Courtesy of MetaStock Xenith

AMD ($4.30) set a multiyear high at $4.30 on Tuesday and has been above its 200-day simple moving average at $3.65 since Nov. 27. The weekly chart profile is positive with its five-week MMA at $3.90 and 200-week SMA at $5.70. AMD has a buy rating, is 22.4% undervalued and has gained 62.9% over the last 12 months. My weekly value level is $4.09, with a monthly risky level at $4.66. My quarterly value level is $2.98 with a semiannual risky level at $8.05.

Broadcom (BRCM) ($29.41) has been above its 50-day SMA at $27.81 since Dec. 2, with its 200-day SMA at $30.03. The weekly chart profile is positive but overbought with its five-week MMA at $28.44 and its 200-week SMA at $34.39. Broadcom has a buy rating, is 2.3% undervalued and has lost 15.1% over the last 12 months. My monthly value level is $22.06 with a weekly pivot at $29.22 and annual risky level at $32.12.

Cree ($63.25) has been trading back and forth around its 200-day SMA at $61.46 since Nov. 7. The weekly chart profile is positive with its five-week MMA at $61.76 and its 200-week SMA at $45.94. Cree has a hold rating and is 31.7% overvalued with a gain of 98.8% over the last 12 months. My annual value level is $55.64 with weekly, semiannual and monthly risky levels at $63.87, $64.80 and $66.39.

Intel ($26.51) set a multiyear intraday high at $26.55 on Tuesday and has been above its 200-day SMA since Oct. 10 with this average now at $23.72. The weekly chart profile is positive but overbought with its five-week MMA at $25.26 and its 200-week SMA at $22.85. Intel has been downgraded to hold from buy and is 26.6% overvalued with a gain of 20.5% over the last 12 months. Weekly, quarterly and monthly value levels are $25.33, $24.40 and $24.26, with a semiannual pivot at $26.33 and semiannual risky level at $28.95.

KLA-Tencor($63.86) set a multiyear intraday high at $67.05 on Oct. 29 with its 200-day SMA at $58.98. The weekly chart profile shifts to negative given a close this week below its five-week MMA at $63.34 with its 200-week SMA at $46.59. KLA has a buy rating, is 41.1% overvalued and has gained 30.5% over the last 12 months. Quarterly and semiannual value levels are $62.28 and $60.93 with semiannual and monthly risky levels at $65.55 and $66.87.

LAM Research (LRCX)($55.89) set a multiyear intraday high at $56 on Tuesday, with its 200-day SMA at $49.18. The weekly chart profile is positive, with its five-week MMA at $53.80 and its 200-week SMA at $43.15. LAM has a hold rating, is 23.7% overvalued and has gained 46.2% over the last 12 months. Monthly and annual value levels are $54.55, $53.18 and $50.58 with a semiannual risky level at $59.11.

Marvell Tech (MRVL) ($15.81) set a 52-week intraday high at $15.82 on Tuesday with its 200-day SMA at $12.16. The weekly chart profile is positive but overbought, with its five-week MMA at $14.24 and its 200-week SMA at $14.06. Marvel has a hold rating, is 20.2% overvalued and has gained 80.9% over the last 12 months. Monthly and annual value levels are $14.60 and $13.97, with a semiannual risky level at $16.87.

Micron Tech (MU) ($23.67) set a multiyear intraday high at $24.50 on Jan. 8 with its 200-day SMA at $15.37. The weekly chart profile is positive but overbought with its five-week MMA at $21.82 and its 200-week SMA at $9.40. Micron has a hold rating, is 44% overvalued and has gained 211.5% over the last 12 months. My quarterly value level is $18.60 with monthly and weekly risky levels at $24.48 and $24.71.

Nvidia Corp (NVDA) ($15.84) set a 52-week intraday high at $16.44 on Jan. 8 with its 200-day SMA at $14.78. The weekly chart profile is positive with its five-week MMA at $15.63 and its 200-week SMA at $14.43. Nvidia has a buy rating, is 12.9% overvalued and has gained 29.8% over the last 12 months. My weekly value level is $15.97 with a monthly pivot at $17.27.

Qualcomm (QCOM) ($73.39) set a multiyear intraday high at $74.50 on Jan. 10 with its 200-day SMA at $66.93. The weekly chart profile is positive but overbought with its five-week MMA at $72.75 and its 200-week SMA at $56.76. Qualcomm has a buy rating, is 7.8% overvalued and has gained 14.2% over the last 12 months. My semiannual value levels are $69.51 and $64.35 with weekly, monthly and quarterly risky levels at $74.55, $74.91 and $76.84.

SanDisk($72.25) set a multiyear intraday high at $73.92 on Jan. 8 with its 200-day SMA at $61.53. The weekly chart profile is positive but overbought with its five-week MMA at $69.67 and its 200-week SMA at $47.69. SanDisk has a buy rating, is 36.2% overvalued and has gained 53.9% over the last 12 months. Weekly and annual value levels are $68.53 and $61.86 with monthly and semiannual risky levels at $73.93, $74.30 and $79.36.

Texas Instruments($43.34) set a multiyear intraday high at $44.09 on Dec. 31 with its 200-day SMA at $39.02. The weekly chart profile is positive but overbought with its five-week MMA at $42.86 and its 200-week SMA at $32.02. The stock has a buy rating, is 45% overvalued and has gained 34% over the last 12 months. Quarterly and semiannual value levels are $41.82, $41.39 and $40.60 with a monthly risky level at $44.09.

Xilinx (XLNX) ($46.05) set a multiyear intraday high at $48.12 on Sept. 17 with its 200-day SMA at $42.94. The weekly chart profile is positive with its five-week MMA at $45.22 and its 200-week SMA at $34.21. The stock has a buy rating, is 25.8% overvalued and has gained 28.5% over the last 12 months. My annual value level is $36.42 with semiannual pivots at $46.83 and $46.83 and with quarterly and monthly risky levels at $47.00 and $50.74.

At the time of publication the author held no positions in any of the stocks mentioned.

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This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff

Richard Suttmeier is the chief market strategist at ValuEngine.com. He has been a professional in the U.S. Capital Markets since 1972, transferring his engineering skills to the trading and investment world.

Suttmeier has an engineering degree from Georgia Tech and a Master of Science degree from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. He became the first long bond trader for Bache in 1978, and formed the Government Bond Department at LF Rothschild in 1981, helping establish that firm as a primary dealer in 1986. This experience gives him the insights to be an expert on monetary policy, which he features in his newsletters, and market commentary.

Suttmeier's industry licenses include, Series 7 and Registered Principal (Series 24). He has been the Chief Market Strategist for ValuEngine.com since 2008 and often appears on financial TV.

Click here for details on Suttmeier's "Buy and Trade" investment strategy.

Richard Suttmeier can be reached at RSuttmeier@Gmail.com

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