Markets

Sector Update: Technology Shares Higher Pre-Market

Top Technology Stocks:

MSFT: +0.29%

AAPL: +0.18%

IBM: +0.15%

CSCO: -0.08%

GOOG: +0.17%

Technology shares were generally higher in pre-market trade Friday.

In technology stocks news, Palo Alto Networks ( PANW ), a provider of network security platforms, was initiated coverage by Imperial Capital analysts with an outperform rating and price target of $95 a share.

In pre-bell trade, PANW was flat at $85.49. The stock rose to a new lifetime high of $87.79 in intraday trading on Thursday.

And, coverage of semiconductor company NXP Semiconductors N.V ( NXPI ) has been initiated by analysts at Stifel Nicolaus with a buy rating and a price target of $78 a share.

The price target represents a potential upside of 22% from the stock's Thursday closing price. Shares of NXPI were steady in Friday's pre-market session at $63.72.

Finally, Actions Semiconductor ( ACTS ), a China-based fabless semiconductor company, reported it swung to a Q2 loss as revenue and gross margin fell on "unfavorable dynamics" in the tablet market. The company is also reorganizing its corporate structure.

ACTS was inactive pre-market after closing Thursday at $2.12, in a 52-week range of $1.58 to $3.00.

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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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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