03:31 PM EDT, 08/16/2024 (MT Newswires) -- Tech stocks were mixed late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) increasing 0.1% and the SPDR S&P Semiconductor ETF (XSD) easing 0.1%.

The Philadelphia Semiconductor index was down 0.1%.

In corporate news, Cisco Systems ( CSCO ) shares rose 2.2% as two investment firms upgraded their ratings on the stock. HSBC upgraded the company to buy from hold and increased its price target to $58 from $46. New Street upgraded the stock to buy from neutral and lifted its price target to $57 from $53.