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Technology Sector Update for 04/08/2015: SIMO,FENG,AIXG

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Technology stocks were little changed this afternoon, with the S&P Technology Index climbing less than 0.1%.

In company news, Silicon Motion Technology Corp. ( SIMO ) was higher in Wednesday trade after the fabless chipmaker said it now sees revenue and gross margin during the three months ending later this month at the high end of its previous guidance.

The company is now expecting little change in Q1 revenue from Q4 levels when it reported $80.5 million in revenue. Analysts, on average, are expecting around $78.4 million in revenue, according to Capital IQ.

It also said Q1 non-GAAP gross margin should come in between 51% to 52%, at the high-end of the company's original guidance range of 50% to 52%.

SIMO shares were ahead almost 8% at $29.91 each, earlier climbing to within 7 cents of its 52-week high of $30.50 a share. Entering Wednesday's session, the stock already had climbed over the past 12 months.

In other sector news,

(+) FENG, (+10.5%) Chief Marketing Officer Ling Jin tenders her resignation, effective immediately, although Jin will continue to work with the company through June 305 to ensure an orderly transition. She also will remain a senior strategic advisor to the company through June 30, 2016.

(-) AIXG, (-2.3%) Acquires privately held PlasmaSi Inc. for up to $16 mln in cash, with plans to integrate PlasmaSi's thin-film encapsulation process into its existing OLED cluster for customer demonstration purposes.

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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