12 IT Stocks Experience Significant Movement on Tuesday

Information Technology stocks experienced significant fluctuations in Tuesday's intraday session. Gainers included Lightwave Logic (LWLG), Nukkleus (NUKK), Veritone (VERI), XIAO-I (AIXI), and Domo (DOMO), while losers included U-BX Technology (UBXG), 3 E Network (MASK), Foxx Development Hldgs (FOXX), Actelis Networks (ASNS), and Gryphon Digital Mining (GRYP). Benzinga's automated content engine and an editor reviewed the article.

Information Technology (IT) stocks experienced significant fluctuations in Tuesday's intraday session. Several companies reported notable gains and losses, reflecting varying market sentiments and investor expectations.

Among the notable gainers, Lightwave Logic (LWLG) saw its shares rise by 18% to $2.9787. The company's stock surged following positive analyst upgrades and market sentiment. Similarly, Domo (DOMO) jumped 23.7% to $17.10 after TD Cowen upgraded the stock from Hold to Buy and raised its price target from $13 to $21 [1].

On the other hand, several IT stocks faced declines. U-BX Technology (UBXG), 3 E Network (MASK), Foxx Development Hldgs (FOXX), Actelis Networks (ASNS), and Gryphon Digital Mining (GRYP) all saw their shares fall. These losses could be attributed to various factors, including market volatility, earnings disappointments, or broader sector concerns.

The semiconductor and IoT systems provider, Semtech Corporation (SMTC), also reported better-than-expected second-quarter financial results after the market closed on Monday. The company reported revenue of $257 million, beating analyst estimates of $256.09 million. Semtech's adjusted earnings per share were 41 cents, surpassing estimates of 40 cents. Semtech shares gained 0.4% to $51.20 in the after-hours trading session [2].

Overall, the IT sector's performance on Tuesday reflects a mix of positive and negative market reactions, influenced by various factors including earnings reports and analyst upgrades. Investors should closely monitor these developments to make informed decisions.

References:
[1] https://www.benzinga.com/trading-ideas/movers/25/08/47332916/semtech-posts-upbeat-earnings-joins-nio-heico-bank-of-nova-scotia-and-other-big-stocks-moving-higher-on-tuesday
[2] https://www.benzinga.com/markets/equities/25/08/47325374/american-woodmark-pvh-and-3-stocks-to-watch-heading-into-tuesday