Technology stocks were advancing Tuesday afternoon, with the SPDR Technology Select Sector ETF climbing 0.3% although the Philadelphia Semiconductor Index was slipping 0.6% in recent trade.
In company news, BK Technologies (BKTI) was hanging on for a 2.9% gain, easing from an 11% advance earlier Tuesday, after the networking equipment company said it received a $1.1 million order from the National Interagency Fire Center for its KNG2-Series Digital P-25 portable radios and related accessories. The orders are expected to be filled during the current quarter.
OneSpan (OSPN) climbed 3.2% after activist investors Legion Partners urged the digital identity and security company to sell its hardware and eSignature software-as-a-service businesses, believing the units are partially responsible for OneSpan’s discounted market valuation. Legion also is calling for more financial disclosures by the company and it wants to replace OneSpan founder T. Kendall Hunt on the company’s board of directors with additional members, possibly including a Legion-nominated director.
Resonant (RESN) rose 7.6% after the electronic components company Tuesday said a pair of foundry companies were using a standard surface acoustic wave front end process to manufacture its 5G XBAR filters for non-mobile applications. Six separate firms are now producing its XBAR filters, Resonant said.
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