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5 Electronics Stocks Pushing The Industry Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

One out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading up 40 points (0.3%) at 15,878 as of Tuesday, Jan. 28, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,973 issues advancing vs. 972 declining with 141 unchanged.

The Electronics industry currently sits up 0.3% versus the S&P 500, which is up 0.3%. Top gainers within the industry include Sanmina (SANM), up 14.3%, Waters Corporation (WAT), up 7.0%, SunPower Corporation (SPWR), up 4.1%, SolarCity (SCTY), up 3.5% and Maxim Integrated Products (MXIM), up 3.3%. On the negative front, top decliners within the industry include Advantest (ATE), down 9.2%, Himax Technologies (HIMX), down 8.8%, LG.Display Company (LPL), down 2.6%, TE Connectivity (TEL), down 1.7% and Applied Materials (AMAT), down 0.9%.

TheStreet would like to highlight 5 stocks pushing the industry higher today:

5. Cree (CREE) is one of the companies pushing the Electronics industry higher today. As of noon trading, Cree is up $1.99 (3.3%) to $62.33 on average volume. Thus far, 827,672 shares of Cree exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $60.53-$62.77 after having opened the day at $60.77 as compared to the previous trading day's close of $60.34.

Cree, Inc. develops, manufactures, and sells lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, and Taiwan. Cree has a market cap of $7.5 billion and is part of the technology sector. The company has a P/E ratio of 63.5, above the S&P 500 P/E ratio of 17.7. Shares are down 3.5% year-to-date as of the close of trading on Monday. Currently there are 6 analysts who rate Cree a buy, 2 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Cree as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Cree Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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