09:07 AM EDT, 05/09/2024 (MT Newswires) -- Technology stocks were flat to lower premarket Thursday as the Technology Select Sector SPDR Fund ( XLK ) was slightly lower and the SPDR S&P Semiconductor ETF ( XSD ) was recently inactive.

EPAM Systems ( EPAM ) fell by more than 23% after it reported lower Q1 adjusted earnings and revenue. The company also lowered its full-year revenue outlook.

SolarEdge Technologies ( SEDG ) was down more than 8% after it reported that it swung to a Q1 non-GAAP loss as revenue tumbled during the period.

Allegro MicroSystems ( ALGM ) declined by over 7% after it reported lower fiscal Q4 non-GAAP earnings and net sales.