Technology Sector Update for 08/20/2020: SNPS,INPX,INPX,FSLY,INTC

Technology stocks extended their Thursday advance, with the SPDR Technology Select Sector ETF climbing 1.3% this afternoon although the Philadelphia Semiconductor Index still was sinking 0.8% shortly before the closing bell.

In company news, Synopsys (SNPS) was nearly 9% higher in late Thursday trading after JPMorgan Thursday raised its price target for the semiconductor testing software company by $50 to $230 a share and also reiterated its overweight stock rating.

Fastly (FSLY) climbed 12% on Thursday even after a new regulatory filing showed company co-founder, executive board chairman and chief architect Artur Bergman Monday sold 55,329 shares of the cloud infrastructure company's stock in addition to selling another 92,308 recently vested shares to satisfy the tax obligations resulting from the prior award of restricted stock units. The shares sold at between $75.78 to $80.06 each through Bergman's Rule 10b5-1 trading plan and reduced his direct stake in the company to 424,013 shares.

Inpixon (INPX) rose 7% after the data analytics company Thursday said it is buying "blue dot" indoor location and motion technologies from privately held Ten Degrees. Financial terms of the transaction were not disclosed. The acquired assets include 10 patents, an API library and software code and development kits for iOS, Android and open-source operating systems.

Intel (INTC) added 2% after the chipmaker late Wednesday announced a $10 billion accelerated stock buyback.

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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