Technology sector

Tech Sector Update 3/28/2022: QRVO,STRC,BOSC,POLY

JTech stocks rose Monday afternoon, with the SPDR Technology Select Sector ETF (XLK) climbing 1.0% and the Philadelphia Semiconductor Index rising 0.3% as both market gauges recovered midday lows.

In corporate news, Qorvo (QRVO) fell 1.6% after Goldman Sachs lowered its stock rating for the mobile components company to neutral from the previous buy and set a target price of $138.

Sarcos Technology and Robotics (STRC) fell 8.4% this afternoon, reversing an early gain that followed the robotics company’s announcement on Monday of its intention to acquire RE2, to pay $30 million in cash and to issue $70 million in stock for the privately owned remote control maker. mobile robots.

Among the advances, BOS Better Online Solutions (BOSC) was up 16%, returning part of a morning lead of nearly 34% that followed Monday’s announcement by the robotics and supply chain company of $2.4 million order from an anonymous customer in Israel.

Plantronics (POLY) rebounded on Monday, climbing nearly 52% after the audio and video products company accepted a $3.3 billion takeover offer from HP (HPQ), which will pay $40 cash for each Poly stock. HP shares were down 3% this afternoon.

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