5 Stocks Underperforming Today In The Electronics Industry

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 97 points (0.7%) at 14,670 as of Tuesday, April 2, 2013, 12:49 PM ET. The NYSE advances/declines ratio sits at 1,756 issues advancing vs. 1,114 declining with 151 unchanged.

The Electronics industry currently sits up 0.1% versus the S&P 500, which is up 0.6%. On the negative front, top decliners within the industry include Microsemi ( MSCC), down 2.7%, Atmel Corporation ( ATML), down 2.0%, Freescale Semiconductor ( FSL), down 1.8%, Trimble Navigation ( TRMB), down 1.6% and NXP Semiconductor ( NXPI), down 1.3%. Top gainers within the industry include Semiconductor Manufacturing International C ( SMI), up 4.8%, AU Optronics Corporation ( AUO), up 1.4%, Advanced Semiconductor Engineering ( ASX), up 1.2% and Taiwan Semiconductor Manufacturing ( TSM), up 0.6%.

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

5. Altera ( ALTR) is one of the companies pushing the Electronics industry lower today. As of noon trading, Altera is down $0.39 (-1.1%) to $34.36 on average volume Thus far, 1.5 million shares of Altera exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $34.28-$34.99 after having opened the day at $34.81 as compared to the previous trading day's close of $34.75.

Altera Corporation, a semiconductor company, designs, manufactures, and markets programmable logic devices (PLD), HardCopy application-specific integrated circuit (ASIC) devices, pre-defined design building blocks, and proprietary development software. Altera has a market cap of $11.4 billion and is part of the technology sector. The company has a P/E ratio of 20.6, above the S&P 500 P/E ratio of 17.7. Shares are up 1.0% year to date as of the close of trading on Monday. Currently there are 7 analysts that rate Altera a buy, no analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Altera 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, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Altera Ratings Report now.

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