3 Technology Stocks On The Rise

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 3 points (0.0%) at 14,977 as of Monday, May 6, 2013, 12:49 PM ET. The NYSE advances/declines ratio sits at 1,675 issues advancing vs. 1,221 declining with 157 unchanged.

The Technology sector currently sits up 0.6% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Apple ( AAPL), up 2.4%, Google ( GOOG), up 1.1% and Microsoft Corporation ( MSFT), up 0.6%. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI), down 2.71, America Movil S.A.B. de C.V ( AMX), down 1.05 and America Movil S.A.B. de C.V ( AMOV), down 0.83.

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

3. Taiwan Semiconductor Manufacturing ( TSM) is one of the companies pushing the Technology sector higher today. As of noon trading, Taiwan Semiconductor Manufacturing is up $0.14 (0.72) to $19.55 on light volume Thus far, 3.7 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 10.6 million shares. The stock has ranged in price between $19.48-$19.63 after having opened the day at $19.49 as compared to the previous trading day's close of $19.41.

Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices. Taiwan Semiconductor Manufacturing has a market cap of $101.3 billion and is part of the electronics industry. The company has a P/E ratio of 18.6, above the S&P 500 P/E ratio of 17.7. Shares are up 13.1% year to date as of the close of trading on Friday. 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, notable return on equity, 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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