Tech Stocks Outperforming All Other Sectors Today

Technology stocks were outpacing other sectors today, with shares of tech companies in the S&P 500 jumping out to a 0.8% increase.

In company news, Silicon Motion Technology Corp (SIMO) climbed Monday after the fabless chipmaker today raised its annual dividend compared with its prior distributions to investors over the past 12 months by 33.3% to $0.80 per share.

The increased dividend – up from $0.60 per share over the previous 12 months – will be payable in four quarterly payments of $0.20 per share each, begining Nov. 17 to shareholders of record on Nov. 7. The remaining dividend payments are due Feb. 23, May 18 and August 17.

SIMO shares were up about 2% today at $46.25 each in recent trade, earlier reaching a session high of $47.49 a share.

In other sector news,

(+) DGLY, (+7.0%) Receives “notable” new orders from the Santa Fe, N.M., police department, including three motorcycle cameras and 27 more in-car digital audio/video systems.

(-) AIXG, (-12.3%) German Federal Ministry of Economics and Energy withdraws clearance certificate for the company’s proposed acquisition by Grand Chip Investment Fund LP.

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