5 Stocks Pushing The Technology Sector Lower

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

One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 1 points (-0.0%) at 13,971 as of Friday, Feb. 15, 2013, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,429 issues advancing vs. 1,408 declining with 163 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include LogMeIn ( LOGM), down 28.2%, Agilent Technologies ( A), down 3.8%, Research in Motion ( BBRY), down 3.1%, Tim Holding Company ( TSU), down 3.0% and ASML ( ASML), down 2.4%. Top gainers within the sector include Qlik Technologies ( QLIK), up 18.4%, TIBCO Software ( TIBX), up 4.5%, Rogers Communications ( RCI), up 4.2%, Garmin ( GRMN), up 2.0% and Intuit ( INTU), up 1.7%.

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

5. IPG Photonics Corporation ( IPGP) is one of the companies pushing the Technology sector lower today. As of noon trading, IPG Photonics Corporation is down $7.28 (-10.5%) to $62.20 on heavy volume Thus far, 3.1 million shares of IPG Photonics Corporation exchanged hands as compared to its average daily volume of 437,200 shares. The stock has ranged in price between $59.67-$64.99 after having opened the day at $64.50 as compared to the previous trading day's close of $69.48.

IPG Photonics Corporation develops and manufactures fiber lasers, fiber amplifiers, and diode lasers. IPG Photonics Corporation has a market cap of $3.5 billion and is part of the electronics industry. The company has a P/E ratio of 24.2, above the S&P 500 P/E ratio of 17.7. Shares are up 1.7% year to date as of the close of trading on Thursday. Currently there are 7 analysts that rate IPG Photonics Corporation a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates IPG Photonics 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, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full IPG Photonics Corporation Ratings Report now.

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