01:48 PM EDT, 05/29/2024 (MT Newswires) -- Tech stocks fell Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.5% and the SPDR S&P Semiconductor ETF (XSD) down 1.3%.

The Philadelphia Semiconductor index declined 1.7%.

In corporate news, N-able (NABL) shares jumped 8.3%. The company is exploring a sale after receiving acquisition interest, Reuters reported.

Box (BOX) shares rose 8.2%, a day after the company reported fiscal Q1 non-GAAP earnings and revenue rose more than expected by analysts.

BofA Securities raised Dell's (DELL) price target to $180 a share from $150 based on the expectation that the company will gain strong momentum into 2025 from its new AI-enabled personal computers, storage, and server offerings. Dell shares added 2.7%.