Technology Sector Update for 09/10/2019: OLED,TSM,HEI

Top Tech Stocks

MSFT -1.07%

AAPL +0.14%

IBM +0.77%

CSCO +1.07%

GOOG +0.45%

Technology stocks were falling in recent trading, with the shares of tech stocks in the S&P 500 slipping 0.9% although the Philadelphia Semiconductor Index was fractionally lower.

Among technology stocks moving on news:

(-) Universal Display Corp (OLED) declined over 10%. A new regulatory filing showed CEO Steven Abramson sold another 31,182 shares of the organic light emitting diode company's common stock through a pre-arranged Rule 10b5-1 trading plan. The shares fetched an average price of $222.02 each, or more than $6.92 million overall, and trimmed his total direct stake in Universal Display to 146,493 shares.

In other sector news:

(+) Taiwan Semiconductor Manufacturing (TSM) has turned narrowly higher this afternoon, overcoming an earlier decline. The chipmaker Tuesday reported a 16.5% increase in August revenue over year-ago levels, rising to TWD106.12 billion, or about $3.40 billion, compared with TWD91.06 billion during August 2018.

(-) Heico (HEI) declined 4% after the electronics manufacturer said its dB Control subsidiary has acquired privately held TTT-Cubed in an all-cash transaction. TTT-Cubed produces aerospace and defense-related components and the deal is expected to add to Heico's per-share profit during the year following the purchase.

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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