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3 Technology Stocks On The Rise

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 18 points (0.1%) at 16,551 as of Wednesday, April 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,684 issues advancing vs. 1,250 declining with 198 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Acuity Brands ( AYI), up 3.5%, Alcatel-Lucent ( ALU), up 2.2%, Corning ( GLW), up 1.8%, Baidu ( BIDU), up 1.5% and Amphenol ( APH), up 1.4%. On the negative front, top decliners within the sector include SK Telecom ( SKM), down 4.9%, Qihoo 360 Technology ( QIHU), down 3.9%, China Telecom ( CHA), down 2.8%, NetEase ( NTES), down 2.8% and Vipshop Holdings ( VIPS), down 2.5%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Lam Research Corporation ( LRCX) is one of the companies pushing the Technology sector higher today. As of noon trading, Lam Research Corporation is up $1.16 (2.1%) to $56.78 on average volume. Thus far, 1.1 million shares of Lam Research Corporation exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $55.44-$57.08 after having opened the day at $55.76 as compared to the previous trading day's close of $55.62.

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers plasma etch products that remove materials from the wafer to create the features and patterns of a device. Lam Research Corporation has a market cap of $8.9 billion and is part of the electronics industry. Shares are up 1.0% year-to-date as of the close of trading on Tuesday. Currently there are 13 analysts who rate Lam Research Corporation a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Lam Research Corporation 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, solid stock price performance, attractive valuation levels and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Lam Research Corporation 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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