Markets

Sector Update: Tech Technology

Technology shares were generally lower in pre-market trade Wednesday.

In technology stocks news, semiconductor company IXYS ( IXYS ) reported it swung to a fiscal Q4 adjusted profit that topped Street expectations as revenue and margins climbed.

For the quarter ended March 31, the company reported net income of $132,000, or break-even earnings per share, compared with a prior-year net loss of $1.9 million, or $0.06 per share.

Excluding one-time items, it earned $0.13 per share in the latest quarter, versus a loss per share of $0.03 in the prior-year period. The mean estimate of two analysts polled by Capital IQ was for a profit of $0.09 per share.

And, Ambarella ( AMBA ) is trading about 5% in pre-market trade, reversing an initial post-close drop as the technology company reports Q1 fiscal 2015 results above the consensus of analysts polled by Capital IQ.

Non-GAAP Q1 EPS of $0.25 topped analyst consensus of $0.21, and was an improvement over Q1 fiscal 2014 EPS of $0.21. Revenue increased 21% to $40.9 million, beating analyst consensus of $40 million.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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