STX, HPQ And INTC, Pushing Technology Sector Downward

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 64 points (0.4%) at 14,866 as of Thursday, April 11, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,808 issues advancing vs. 1,100 declining with 140 unchanged.

The Technology sector currently sits down 0.09 versus the S&P 500, which is up 0.4%. On the negative front, top decliners within the sector include Microsoft Corporation ( MSFT), down 5.05, China Telecom ( CHA), down 1.75, China Unicom (Hong Kong ( CHU), down 1.76, Qualcomm ( QCOM), down 0.54 and America Movil S.A.B. de C.V ( AMX), down 0.64. Top gainers within the sector include Telecom Italia SpA ( TI), up 5.6%, NTT DoCoMo ( DCM), up 3.4%, BT Group ( BT), up 1.5%, AT&T ( T), up 1.1% and Verizon Communications ( VZ), up 1.2%.

TheStreet Ratings group would like to highlight 3 stocks pushing the sector lower today:

3. Seagate Technology ( STX) is one of the companies pushing the Technology sector lower today. As of noon trading, Seagate Technology is down $1.63 (-4.3%) to $36.05 on average volume Thus far, 4.6 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 6.3 million shares. The stock has ranged in price between $35.75-$37.04 after having opened the day at $36.99 as compared to the previous trading day's close of $37.68.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise storage, client compute, and client non-compute market applications worldwide. Seagate Technology has a market cap of $13.3 billion and is part of the computer hardware industry. The company has a P/E ratio of 4.9, below the S&P 500 P/E ratio of 17.7. Shares are up 21.5% year to date as of the close of trading on Wednesday.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Seagate Technology Ratings Report now.

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