Technology stocks lost additional ground this afternoon, with the SPDR Technology Select Sector ETF declining 2.2% while the Philadelphia Semiconductor Index was slipping 2.8%.
Among technology stocks moving on news:
(-) Sigma Labs (SGLB) dropped over 18% after the manufacturing software firm Friday priced a $1.5 million public offering of 515,465 equity units and an equal-sized private placement of units also generating $1.5 million in gross proceeds. Each unit was priced at $2.91 and consisted of one common share or prefunded warrants plus a warrant to buy an additional share exercisable at $2.782 per share beginning six months and one day after the deal closes and expire five years later.
In other sector news:
(-) Himax Technologies (HIMX) was down 1.2%, giving back a 5.3% advance soon after Friday's opening bell following the fabless chipmaker reporting preliminary non-IFRS Q1 net income of $0.022 per American depositary share, topping the Capital IQ consensus looking for a $0.01 per ADS quarterly profit. Revenue rose 13% year-over-year to $184.6 million during the three months ended March 31 but lagged the $187.5 million analyst mean.
(-) Dell Technologies (DELL) fell 2% after the computer hardware manufacturer Friday said it has begun a private placement of its first lien notes, with plans to use the net proceeds for general corporate purposes, including repaying debt. The company has been expecting to repay around $5.5 billion during its FY21 ending next January, conditional on the impact of the COVID-19 pandemic on the company's business performance.
(-) Aehr Test Systems (AEHR) dropped more than 21% after the semiconductor test equipment company Thursday reported a 93% year-over-year increase in fiscal Q3 revenue, rising to $6.1 million during the three months ended Feb. 29 but still trailing the single-analyst estimate expecting $7.73 million in revenue. The company reported adjusted EPS of $0.02 for the quarter, reversing from a loss of $0.07 per share a year earlier. The company also withdrew its FY20 guidance due to the COVID-19 pandemic.
Price: 2.35, Change: -0.52, Percent Change: -18.12
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