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Sector Update: Technology

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Technology stocks were lower this afternoon, with shares of technology companies in the S&P 500 falling 0.5%.

In company news, Silicon Motion ( SIMO ) was slightly higher Monday after the chip-maker issued revised revenue guidance for the three months ended March 31 to above analyst forecasts.

SIMO American depository shares see-saw between small gains and losses, last trading up 0.2% at $16.73 each, bouncing back from a slide earlier this morning to $16.59 a share. The stock has a 52-week range of $9.90 to $18.44 a share.

The company said it expects to report Q1 revenue near the top of its prior guidance looking for little change from the previous quarter's $52.5 million to as much as down 10%, or about $47.25 million. Analysts, on average, are forecasting a 4.25% sequential decline to around $50.26 million, according to Capital IQ.

SIMO also said non-GAAP gross margin will likely be near the bottom of its forecast range of 48% to 50%.

In other sector news,

(+) VOCS, (+47.1%) Agrees to $446.5 mln going-private transaction, with private equity firm GTCR paying $18 for each share of the cloud-based marketing and public relations software firm. Deal expected to close by the end of June.

(-) VG, (-1.2%) CEO Marc Lefar announces plans to retire once a successor is hired, expected by year's end. The company said it will consider internal and external candidates.

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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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