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Technology Sector Update for 04/15/2015: LLTC,OTIV,ALU,NOK

Top Tech Stocks

MSFT +1.92%

AAPL +0.49%

IBM +1.47%

CSCO +2.03%

GOOG +0.69%

Technology stocks were broadly higher in late Wednesday trade with shares of technology companies in the S&P 500 advancing about 1.0%.

In company news, chipmaker Linear Technology Corp ( LLTC ) rose Wednesday rose after it beat analyst projections with its fiscal Q3 net income as revenue grew compared to previous quarter and the year-ago period.

Net income during the three months ended March 29 rose to $135.2 million, or $0.55 per share, from $126.3 million during the same quarter last year and topping the Capital IQ consensus by $0.02 per share.

Revenue climbed 6.9% from year-ago levels to $372.02 million, roughly in-line with expectations for $371.91 million in revenue.

For the current quarter, the company see revenue rising 2% to 5% over Q3 levels, equating to a range between $379.5 million to $390.6 million and straddling the $387.78 million Street view.

LLTC shares were up more than 2% at $46.40 apiece, staying within close range of their session high at $46.69 a share. The stock has traded within a 52-week range of $37.56 to $49.57 a share, slipping about 2% over the past 12 months prior to today's rise.

In other sector news,

(+) OTIV, Hires Houlihan Lokey to assist with exploring strategic alternatives, including acquisitions or dispositions of assets or its intellectual property portfolio as well as joint ventures and strategic investments..

(-) ALU, Agrees to 15.6 bln euro ($16.55 bln) merger transaction with Nokia, with ALU shareholders receiving 0.55 of a NOK share for each share they now own. NOK also fell.

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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