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3 Stocks Pushing The Technology Sector Lower

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.

The Technology sector as a whole closed the day down 0.9% versus the S&P 500, which was up 0.1%. Laggards within the Technology sector included Video Display ( VIDE), down 2.1%, Qualstar ( QBAK), down 4.8%, TigerLogic ( TIGR), down 2.4%, LGL Group ( LGL), down 2.8% and Net Element ( NETE), down 5.7%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the sector lower today:

LG Display ( LPL) is one of the companies that pushed the Technology sector lower today. LG Display was down $0.67 (4.8%) to $13.22 on light volume. Throughout the day, 280,737 shares of LG Display exchanged hands as compared to its average daily volume of 479,400 shares. The stock ranged in price between $13.22-$13.32 after having opened the day at $13.32 as compared to the previous trading day's close of $13.89.

LG Display Co., Ltd. manufactures and sells thin film transistor liquid crystal display (TFT-LCD) panels in the Republic of Korea, the United States, Europe, China, and rest of Asia. LG Display has a market cap of $10.0 billion and is part of the electronics industry. Shares are up 14.4% year-to-date as of the close of trading on Thursday. Currently there are 2 analysts who rate LG Display a buy, no analysts rate it a sell, and 2 rate it a hold.

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TheStreet Ratings rates LG Display as a hold. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow.

Highlights from TheStreet Ratings analysis on LPL go as follows:

  • The current debt-to-equity ratio, 0.37, is low and is below the industry average, implying that there has been successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.82 is somewhat weak and could be cause for future problems.
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Looking ahead, our view is that this company's fundamentals will not have much impact in either direction, allowing the stock to generally move up or down based on the push and pull of the broad market.
  • Net operating cash flow has decreased to $619.25 million or 37.58% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Electronic Equipment, Instruments & Components industry. The net income has significantly decreased by 74.9% when compared to the same quarter one year ago, falling from $292.25 million to $73.46 million.

You can view the full analysis from the report here: LG Display Ratings Report

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