The tech sector was mixed Friday, but several names moved higher after posting solid earnings reports.

CommScope

(CTV) - Get Report

jumped 10% after the maker of fiber-optic cable products posted blowout first-quarter results and boosted its 2007 revenue forecast. The company earned $45.9 million, or 63 cents a share, on revenue of $435.5 million. Analysts expected earnings of 52 cents a share on revenue of $420.1 million. During the year-earlier period, the company earned $12.7 million, or 19 cents a share, on revenue of $352.3 million.

Looking ahead, CommScope now sees full-year revenue of $1.84 billion to $1.89 billion, up from an earlier forecast of $1.72 billion to $1.76 billion. Analysts project revenue of $1.8 billion. Shares were trading up $4.75 to $50.20.

Elsewhere,

Microsoft

(MSFT) - Get Report

rose 5% after the software giant posted third-quarter results that topped expectations. For the quarter ended March 31, the company earned $4.93 billion, or 50 cents a share, on revenue of $14.4 billion. Results included legal charges of a penny a share and tax benefits of 2 cents a share. Analysts expected earnings of 46 cents a share on revenue of $13.89 billion. During the year-earlier quarter, the company earned $2.98 billion, or 29 cents a share, on revenue of $10.9 billion.

Looking ahead, Microsoft issued initial 2008 earnings guidance of $1.68 to $1.72 a share on revenue of $56.5 billion to $57.5 billion. Analysts project earnings of $1.69 a share on revenue of $56.2 billion. Shares were trading up $1.37 to $30.47.

Meanwhile,

ON Semiconductor

(ONNN)

rose 8% after the chipmaker posted in-line first-quarter earnings on better-than-expected revenue. The company earned $54 million, or 18 cents a share, on revenue of $374.2 million. Analysts expected earnings of 18 cents a share on revenue of $373.3 million. During the year-earlier quarter, the company earned $40.4 million, or 12 cents a share, on revenue of $334 million.

Looking ahead, ON Semiconductor sees second-quarter revenue of $375 million to $385 million. Analysts project revenue of $383.5 million. Shares were trading up 85 cents to $11.23.

Varian Semiconductor Equipment Associates

( VSEA) soared 19% after the company posted second-quarter results that were better than expected and issued third-quarter guidance that exceeded expectations. For the quarter ended March 30, the company earned $38.4 million, or 69 cents a share, on revenue of $241.8 million. Analysts expected earnings of 66 cents a share on revenue of $239 million. During the year-earlier quarter, the company earned $14.8 million, or 26 cents a share, on revenue of $170.5 million.

Looking ahead, Varian Semiconductor sees third-quarter earnings of 89 cents to 98 cents a share on revenue between $271 million and $286 million. Analysts project earnings of 68 cents a share on revenue of $240.8 million. Shares were trading up $10.99 to $67.99.

On the losing side,

MEMC Electronic Materials

(WFR)

slumped 12% after the maker of silicon wafers posted mixed first-quarter results and offered in-line revenue guidance, but said that wafer inventory issues remain. The company reported adjusted earnings of $164.3 million, or 71 cents a share, on revenue of $440.4 million. Analysts polled by Thomson Financial expected earnings of 69 cents a share on revenue of $443.9 million. During the year-earlier quarter, the company earned $67.3 million, or 29 cents a share, on revenue of $341.5 million.

Looking ahead, MEMC sees second-quarter revenue of $460 million to $470 million, in line with the $464.8 million that analysts project. "Although the demand environment for some of our semiconductor customers is improving compared to a soft first quarter, the wafer inventory recovery seems to be lagging that improvement a bit because of their days of inventory," the company said. "In addition, other customers seem to have remnant inventory issues from the holiday season. Demand from the solar market, however, continues to be healthy." Shares were trading down $8.25 to $58.90.

As for the broader technology sector, the Nasdaq 100 was recently trading down about 2 points to 1888.

Other technology movers included

Sun Microsystems

(SUNW) - Get Report

, down 1 cent to $5.24;

Cisco Systems

(CSCO) - Get Report

, up 28 cents to $26.83;

Sirius Satellite Radio

(SIRI) - Get Report

, up 8 cents to $3.04; and

Intel

(INTC) - Get Report

, down 15 cents to $21.94;

Broadcom

(BRCM)

, down $1.58 to $33.28; and

Level 3 Communications

(LVLT)

, up 3 cents to $5.76.