09:05 AM EST, 12/04/2024 (MT Newswires) -- Technology shares were advancing premarket Wednesday as the Technology Select Sector SPDR Fund (XLK) was 1.4% higher and the SPDR S&P Semiconductor ETF ( XSD ) was up 1.6% recently.

Himax Technologies ( HIMX ) shares were up over 3% after the company said its board approved a buyback program to repurchase up to $20 million in American depositary shares.

NXP Semiconductors ( NXPI ) and Vanguard International Semiconductor's joint venture, VisionPower Semiconductor Manufacturing, on Wednesday broke ground on its 300-millimeter wafer manufacturing facility in Tampines, Singapore. NXP Semiconductors ( NXPI ) shares were up over 1% pre-bell.

Gogo ( GOGO ) shares advanced by over 1% after the company said it has completed its acquisition of Satcom Direct for $375 million in cash and five million shares of Gogo ( GOGO ) stock.