Sector Update: Technology Stocks Log Advance

Wednesday, April 7, 2021 4:06 PM | MT Newswires

Technology stocks were higher this afternoon, with the SPDR Technology Select Sector ETF rising 0.5% Wednesday while the Philadelphia Semiconductor Index was little changed.

In company news, Advanced Micro Devices (AMD) rose 0.9% after shareholders of the chipmaker and Xilinx (XLNX) approved AMD's proposed purchase of the programmable logic device company. Xilinx shares were 0.8% higher in late regular-hours trade.

Science Applications International (SAIC) was 1.3% higher after saying it secured an eight-year, $3.6 billion contract to provide the US Army with engineering, software and integration services at its Combat Capabilities Development Command, Aviation and Missile Center.

Himax Technologies (HIMX) rose 2.1% after the semiconductor company said it expects its Q1 non-GAAP earnings to reach about $0.38 per American depositary share, which is higher than its previous guidance of $0.30 to $0.34 per American depositary share.

Ouster (OUST) climbed more than 26% after Citigroup began coverage of 3-D vision sensors company with a buy investment recommendation and a $17 price target.

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