5 Stocks Pushing The Technology Sector Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 24 points (-0.2%) at 13,886 as of Thursday, Jan. 31, 2013, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,305 issues advancing vs. 1,515 declining with 144 unchanged.

The Technology sector currently sits up 0.2% versus the S&P 500, which is down 0.3%. Top gainers within the sector include Citrix Systems ( CTXS), up 10.0%, Ericsson Telephone Company ( ERIC), up 8.6%, NTT DoCoMo ( DCM), up 2.8%, China Unicom (Hong Kong ( CHU), up 1.1% and AT&T ( T), up 1.1%. On the negative front, top decliners within the sector include Research in Motion ( RIMM), down 7.0%, Nokia Oyj ( NOK), down 4.2%, Yahoo ( YHOO), down 2.6%, Kyocera Corporation ( KYO), down 2.1% and Baidu ( BIDU), down 0.9%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Nippon Telegraph & Telephone ( NTT) is one of the companies pushing the Technology sector higher today. As of noon trading, Nippon Telegraph & Telephone is up $0.28 (1.4%) to $21.07 on heavy volume Thus far, 391,514 shares of Nippon Telegraph & Telephone exchanged hands as compared to its average daily volume of 388,500 shares. The stock has ranged in price between $21.02-$21.12 after having opened the day at $21.02 as compared to the previous trading day's close of $20.79.

Nippon Telegraph and Telephone Corporation, together with its subsidiaries, provides fixed and mobile voice related services, IP/packet communications services, telecommunications equipment, and system integration and other telecommunications-related services in Japan. Nippon Telegraph & Telephone has a market cap of $50.5 billion and is part of the telecommunications industry. The company has a P/E ratio of 10.1, below the S&P 500 P/E ratio of 17.7. Shares are down 1.2% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Nippon Telegraph & Telephone a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Nippon Telegraph & Telephone as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Nippon Telegraph & Telephone Ratings Report now.

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4. As of noon trading, Fortinet ( FTNT) is up $4.08 (21.1%) to $23.42 on heavy volume Thus far, 8.7 million shares of Fortinet exchanged hands as compared to its average daily volume of 2.4 million shares. The stock has ranged in price between $22.60-$24.24 after having opened the day at $23.28 as compared to the previous trading day's close of $19.35.

Fortinet, Inc., together with its subsidiaries, provides network security solutions to enterprises, service providers, and government entities worldwide. Fortinet has a market cap of $3.4 billion and is part of the computer software & services industry. The company has a P/E ratio of 53.3, above the S&P 500 P/E ratio of 17.7. Shares are down 6.2% year to date as of the close of trading on Wednesday. Currently there are 16 analysts that rate Fortinet a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Fortinet 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, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Fortinet Ratings Report now.

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3. As of noon trading, JDS Uniphase Corp (CA ( JDSU) is up $2.16 (17.4%) to $14.56 on heavy volume Thus far, 13.3 million shares of JDS Uniphase Corp (CA exchanged hands as compared to its average daily volume of 4.2 million shares. The stock has ranged in price between $14.00-$15.14 after having opened the day at $14.08 as compared to the previous trading day's close of $12.40.

JDS Uniphase Corporation provides communications test and measurement solutions, and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers, and enterprises worldwide. JDS Uniphase Corp (CA has a market cap of $3.1 billion and is part of the telecommunications industry. Shares are down 3.3% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate JDS Uniphase Corp (CA a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates JDS Uniphase Corp (CA as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself. Get the full JDS Uniphase Corp (CA Ratings Report now.

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2. As of noon trading, Skyworks Solutions ( SWKS) is up $2.68 (12.4%) to $24.24 on heavy volume Thus far, 8.1 million shares of Skyworks Solutions exchanged hands as compared to its average daily volume of 4.4 million shares. The stock has ranged in price between $23.78-$24.68 after having opened the day at $24.29 as compared to the previous trading day's close of $21.56.

Skyworks Solutions, Inc., together with its subsidiaries, offers analog and mixed signal semiconductors worldwide. Skyworks Solutions has a market cap of $4.1 billion and is part of the electronics industry. The company has a P/E ratio of 20.2, above the S&P 500 P/E ratio of 17.7. Shares are up 4.3% year to date as of the close of trading on Wednesday. Currently there are 15 analysts that rate Skyworks Solutions a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Skyworks Solutions as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Skyworks Solutions Ratings Report now.

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1. As of noon trading, Qualcomm ( QCOM) is up $2.91 (4.6%) to $66.44 on heavy volume Thus far, 15.9 million shares of Qualcomm exchanged hands as compared to its average daily volume of 12.4 million shares. The stock has ranged in price between $66.01-$67.44 after having opened the day at $67.08 as compared to the previous trading day's close of $63.53.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. It operates in four segments: QCT, QTL, QWI, and QSI. Qualcomm has a market cap of $109.3 billion and is part of the telecommunications industry. The company has a P/E ratio of 20.7, above the S&P 500 P/E ratio of 17.7. Shares are up 2.6% year to date as of the close of trading on Wednesday. Currently there are 32 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Qualcomm 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, growth in earnings per share, compelling growth in net income and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Qualcomm Ratings Report now.

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If you are interested in one of these 5 stocks, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

A reminder about TheStreet Ratings group: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

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