Technology Sector Update for 03/25/2024: SMCI, TTWO, LSPD

Tech stocks were mixed Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) up 0.1% recently.

The Philadelphia Semiconductor index rose 0.3%.

In corporate news, Super Micro Computer (SMCI) shares climbed almost 10% as JPMorgan started the stock with an overweight rating and a $1,150 price target. Also, Northland raised Super Micro's share-price target to $1,300 from $925 while keeping the outperform rating.

Take-Two Interactive Software (TTWO) tumbled 4.6% after a Kotaku report said that the highly anticipated Grand Theft Auto 6 video game may miss the 2025 release window.

Lightspeed Commerce (LSPD) founder and interim Chief Executive Dax Dasilva said the company is open to having talks about going private, La Presse reported, citing an interview with Dasilva. Its shares rose 5.8%.

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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