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Motorola Solutions shares lag as stock pulls back from highs
MSI has fallen 5.4% from its Sept. 1 52-week high of $494.85, while the State Street Technology Select Sector SPDR ETF rose 3.1% over the same period.
Motorola Solutions, Inc. has a market cap of $77.5 billion and sells mission-critical communications, video security, and command center software for public safety agencies, governments, and businesses worldwide.
Despite its large-cap profile, the stock has pulled back 5.4% from its 52-week high of $494.85 reached on Sept. 1. Over the past three months, shares have fallen nearly 14%, underperforming the State Street Technology Select Sector SPDR ETF (XLK), which gained 3.1%.
The longer-term picture is also mixed, with Motorola Solutions down 2.2% over the past 52 weeks while XLK gained 42.6%. Year to date, MSI is up 22.1%, trailing the technology sector's 30.1% gain.
On the company side, Motorola Solutions completed a $1.5 billion acquisition of D-Fend Solutions on Aug. 20, a move intended to strengthen counter-drone capabilities by using D-Fend's RF cyber-takeover approach to neutralize rogue drones and guide them to designated landing zones, the article says. The stock has also been trading above both its 50-day and 200-day moving averages since the end of July.