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Sector Update: Tech

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Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.5%.

The Philadelphia Semiconductor index jumped 6%.

In corporate news, Cantor Fitzgerald adjusted its price target on Micron Technology's (MU) shares to $1,500 from $700 while maintaining its overweight rating. Wells Fargo adjusted its price objective for Micron to $1,220 from $550, while keeping its overweight rating on the stock. Micron shares climbed 8.7%.

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