Sector Update: Tech
Technology stocks were narrowly lower with shares of technology companies in the S&P 500 slipping 0.1%.
In company news, Tessera Technologies ( TSRA ) shares were holding near their session highs shortly before Monday's closing bell and the digital optics firm receiving a Buy rating in new coverage at Craig-Hallum.
The research shop also set a $30 price target for the stock.
TSRA shares were up 5.7% at $23.55 apiece in late trade, just 6 cents off their intra-session high. The stock has a 52-week range of $17.60 to $23.91, rising 14% over the past 12 months.
In other sector news,
(+) CPAH, Awarded U.S, patent for its mobile network-based authentication technology, which allows operators to offer Over the Top communications with mobile-based user authentication, simplifying mobile services over non-mobile devices.
(-) ASTI, Offers $32 mln of 8.0% secured convertible notes due 2019, with the company pocketing $7 mln at closing and the remaining $25 mln in installments over next 18 months. Deal includes 5-year warrants to buy up to 26.7 mln shares at $0.5246 each.
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