03:28 PM EDT, 03/27/2024 (MT Newswires) -- Tech stocks were mixed late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) fractionally lower and the SPDR S&P Semiconductor ETF (XSD) gaining 2%.

The Philadelphia Semiconductor index rose 0.2%.

In corporate news, Direct Digital ( DRCT ) shares plunged 37% after it swung to a loss late Tuesday while reporting lower-than-expected Q4 sales. Roth MKM cut the company's price target to $19 from $27.50, while keeping the buy rating.