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Technology stocks were higher on Wednesday, with the shares of tech stocks in the S&P 500 rising nearly 0.9% while the Philadelphia Semiconductor Index was climbing almost 1.2%.

Among technology stocks moving on news:

(+) SMART Global Holdings ( SGH ) was extending its Wednesday advance, rising nearly 21%, after the memory chipmaker announced a pair of acquisitions that are expected to immediately boost its per-share net income while adding embedded computing to its product portfolio. In one deal, SMART Global will pay $80 million in cash for privately held Artesyn Embedded Computing and it also will swap $12 million in cash and stock for Inforce Computing.

In other sector news:

(+) Vislink Technologies ( VISL ) surged Wednesday, rising 316%, after the microwave communications equipment company said it received a $2.8 million contract from the US Army for the supply of intelligence, surveillance and reconnaissance receiver devices.

(-) Micro Focus International plc ( MFGP ) dropped 10% this afternoon. Credit Suisse reiterated its underperform stock rating on the infrastructure software firm and raised its price target on the company's shares by GBP0.47 to GBP13.87.

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