Technology Sector Update for 07/01/2021: CUEN,MU,TXN,MKSI,SFET

Technology stocks were little changed shortly before Thursday's closing bell, with the SPDR Technology Select Sector ETF slipping less than 0.1% although the the Philadelphia Semiconductor Index was falling 1.5% this afternoon.

In company news, Cuentas (CUEN) rose 7% after late Wednesday saying was launching WaveMax's Shared WiFi6 network at 170 test locations in the New York City-Tristate area for six months.

to the downside, Micron Technology (MU) slid 5.7% after the chipmaker late Wednesday announced the sale of its 300-millimeter fabrication facility in Lehi, Utah, to Texas Instruments (TXN) for $900 million in cash, upstaging Micron Tech's better-than-expected results for its fiscal Q3. Its projected adjusted earnings and revenue for the current Q4 also exceeded analyst estimates.

MKS Instruments (MKSI) declined 4.1% after the lasers and photronics company said it was acquiring process chemicals technology company Atotech (ATC) for $5.1 billion, paying $16.20 in cash for each Atotech share plus 0.0552 of a MKS Instrument share. Atotech shares were 1.5% lower this afternoon.

Safe-T Group (SFET) fell 1.3% after Thursday disclosing plans to acquire cybersecurity and privacy software-as-a-service company CyberKick for $9.3 million, paying $3.7 million in cash and issuing $5.6 million of its stock. CyberKick also is eligible for up to $3 million in additional cash based on its revenue levels during the first and second years after the deal closes.

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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