Technology Sector Update for 04/08/2021: SIMO, COMM, BILI, XLK, SOXX

Technology stocks were climbing in Thursday's premarket trading. The Technology Select Sector SPDR ETF (XLK) was 0.82% higher and the Semiconductor Sector Index Fund (SOXX) was up more than 1% recently.

Silicon Motion Technology (SIMO) was gaining more than 7% after saying it expects Q1 revenue to increase by 25% sequentially, exceeding its previous guidance for 7% to 12% growth.

CommScope (COMM) was climbing past 7% after unveiling plans to spin-off its Home Networks business and undertake other initiatives to lower operating costs throughout the company.

Bilibili (BILI) is in talks to acquire a 24% stake in Yozoo Games as part of a nearly 5 billion yuan ($763.2 million) deal, Reuters reported, citing two unnamed sources. Bilibili was more than 3% higher recently.

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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