LSCC

Lattice Semiconductor Corporation

61.40
USD
-4.03%
61.40
USD
-4.03%
43.41 85.45
52 weeks
52 weeks

Mkt Cap 8.73B

Shares Out 136.39M

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Technology Sector Update for 06/23/2022: LSCC,RXT,VMW,LDOS,MEI

Technology stocks rebounded from their midday weakness, with the SPDR Technology Select Sector ETF (XLK) Thursday rising 1.4% although the Philadelphia Semiconductor Index was still down 0.7% this afternoon. In company news, Lattice Semiconductor (LSCC) was hanging onto a 1.2% gain, rebounding from a midday decline, after the chipmaker late Wednesday said it was moving up to the Russell 1000 Index from the Russell 2000 Index, effective Monday. Rackspace Technology (RXT) rose 7.6% after Thursday saying it was partnering with VMware (VMW) and providing its Data Center in a Box application for use in VMWare's Secure Access Service Edge platform. Leidos Holdings (LDOS) was little changed, giving back a 1.5% gain earlier Thursday that followed the US Government Accountability Office late Wednesday reaffirming a defense enclave services contract award from the Defense Information Systems Agency worth as much as $11.5 billion for the IT services company. Among decliners, Methode Electronics (MEI) slid 3.9% after the components manufacturer reported a 4.1% decline in its Q4 net income to $288.7 million while net income for the three months ended April 30 fell to $0.43 per share compared with an $0.81 per share profit during the same quarter in 2021. 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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