Technology stocks were made up ground today following last week’s declines, with shares of tech companies in the S&P 500 advancing over 0.9% on Monday.
In company news, Ixia (XXIA) jumped out to a 28-month high today following late Friday reports the networking equipment is exploring a potential sale, prompting at least one analyst to raise his price target for the company’s stock.
Ixia has been working with an investment bank and the company has been attracting interest from rival companies as well as private-equity firms, sources familiar with the sales process told Reuters. They also cautioned a deal is likely several weeks away yet. Ixia officials declined to comment when contacted by the news service.
XXIA shares were up nearly 1% at $15.70 each in late trade, staying relatively near their highest level since July 2014 at $15.95 a share.
By Stephen Holmes