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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 59 points (0.4%) at 13,940 as of Friday, Feb. 22, 2013, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,920 issues advancing vs. 903 declining with 157 unchanged.

The Technology sector currently sits up 0.8% versus the S&P 500, which is up 0.5%. Top gainers within the sector include Aruba Networks ( ARUN), up 21.3%, Texas Instruments ( TXN), up 4.8%, Infosys ( INFY), up 4.2%, Wipro ( WIT), up 3.4% and Tim Holding Company ( TSU), up 3.4%. On the negative front, top decliners within the sector include Equinix ( EQIX), down 3.0%, and Nippon Telegraph & Telephone ( NTT), down 1.6%.

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

5. Cognizant Technology Solutions Corporation ( CTSH) is one of the companies pushing the Technology sector higher today. As of noon trading, Cognizant Technology Solutions Corporation is up $0.84 (1.1%) to $76.01 on light volume Thus far, 516,386 shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $75.40-$76.08 after having opened the day at $75.48 as compared to the previous trading day's close of $75.17.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services in North America, Europe, and internationally. Cognizant Technology Solutions Corporation has a market cap of $23.1 billion and is part of the computer software & services industry. The company has a P/E ratio of 20.8, 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 Thursday. Currently there are 20 analysts that rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Cognizant Technology Solutions 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, impressive record of earnings per share growth, compelling growth in net income and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Cognizant Technology Solutions Corporation Ratings Report now.

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4. As of noon trading, Taiwan Semiconductor Manufacturing ( TSM) is up $0.18 (1.0%) to $18.87 on light volume Thus far, 3.2 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 9.1 million shares. The stock has ranged in price between $18.66-$18.87 after having opened the day at $18.67 as compared to the previous trading day's close of $18.69.

Taiwan Semiconductor Manufacturing Company Limited engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. Taiwan Semiconductor Manufacturing has a market cap of $97.9 billion and is part of the electronics industry. The company has a P/E ratio of 22.0, above the S&P 500 P/E ratio of 17.7. Shares are up 10.1% year to date as of the close of trading on Thursday. Currently there are 2 analysts that rate Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Taiwan Semiconductor Manufacturing as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Taiwan Semiconductor Manufacturing Ratings Report now.

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3. As of noon trading, Hewlett-Packard ( HPQ) is up $1.73 (10.1%) to $18.83 on heavy volume Thus far, 63.4 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 26.9 million shares. The stock has ranged in price between $18.11-$19.04 after having opened the day at $18.21 as compared to the previous trading day's close of $17.10.

Hewlett-Packard Company and its subsidiaries provide products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses (SMBs), and large enterprises, including customers in the government, health, and education sectors worldwide. Hewlett-Packard has a market cap of $32.6 billion and is part of the computer hardware industry. Shares are up 17.2% year to date as of the close of trading on Thursday. Currently there is 1 analyst that rates Hewlett-Packard a buy, 7 analysts rate it a sell, and 16 rate it a hold.

TheStreet Ratings rates Hewlett-Packard as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself. Get the full Hewlett-Packard Ratings Report now.

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2. As of noon trading, International Business Machines ( IBM) is up $1.43 (0.7%) to $199.76 on light volume Thus far, 1.0 million shares of International Business Machines exchanged hands as compared to its average daily volume of 3.9 million shares. The stock has ranged in price between $198.84-$199.97 after having opened the day at $199.23 as compared to the previous trading day's close of $198.33.

International Business Machines Corporation provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. International Business Machines has a market cap of $225.2 billion and is part of the computer hardware industry. The company has a P/E ratio of 13.1, below the S&P 500 P/E ratio of 17.7. Shares are up 4.1% year to date as of the close of trading on Thursday. Currently there are 9 analysts that rate International Business Machines a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full International Business Machines Ratings Report now.

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1. As of noon trading, Apple ( AAPL) is up $2.76 (0.6%) to $448.82 on light volume Thus far, 5.5 million shares of Apple exchanged hands as compared to its average daily volume of 20.9 million shares. The stock has ranged in price between $446.60-$451.60 after having opened the day at $449.25 as compared to the previous trading day's close of $446.06.

Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions. Apple has a market cap of $421.5 billion and is part of the computer hardware industry. The company has a P/E ratio of 10.2, below the S&P 500 P/E ratio of 17.7. Shares are down 15.7% year to date as of the close of trading on Thursday. Currently there are 33 analysts that rate Apple a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Apple 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, increase in net income, 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 Apple 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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