Top Tech Stocks
Technology stocks were hanging on for slim gains this afternoon, with the shares of tech stocks in the S&P 500 were adding slightly more than 0.1% in value although the Philadelphia Semiconductor Index was rising over 0.5%.
Among technology stocks moving on news:
(+) QuickLogic ( QUIK ) was nearly 5% higher in late trade after the specialty chipmaker revised its loan and security agreement with Heritage Bank of Commerce, including a $6 million increase in its revolving line of credit to $15 million.
In other sector news:
(+) Ability Inc. ( ABIL ) soared as much as 57% higher on Friday after the Israeli cyber intelligence software company said its founders agreed to convert the company's $1.5 million (NIS5.5 million) credit line into equity.
(+) Quantum ( QTM ) was 36% higher in late afternoon trading, giving back some of a 50% gain that followed the data-storage company refinancing all of its existing debt with a $165 million senior secured term loan facility and a $45 million revolving credit line.
(+) ADDvantage Technologies Group ( AEY ) jumped almost 15% higher at one point during Friday trading after the electronics manufacturer announced its $1.7 million purchase of Fulton Technologies and Mill City Communications, significantly expanding its wireless telecommunications offerings. The company also reported a fiscal Q4 net loss of $0.47 per share compared with a $0.03 per share net loss during the year-ago period. Net sales declined 11.4% year over year to $10.9 million.
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