5 Stocks Boosting 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 79 points (0.5%) at 15,467 as of Wednesday, May 22, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,746 issues advancing vs. 1,183 declining with 133 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is up 0.5%. Top gainers within the sector include Kyocera Corporation ( KYO), up 4.9%, Cree ( CREE), up 4.4%, Intuit ( INTU), up 3.6%, NetApp ( NTAP), up 3.2% and Nippon Telegraph & Telephone ( NTT), up 1.6%. On the negative front, top decliners within the sector include Baidu ( BIDU), down 2.13, Amphenol ( APH), down 2.16, Crown Castle International ( CCI), down 1.65, China Telecom ( CHA), down 1.64 and ABB ( ABB), down 0.88.

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

5. Western Digital Corporation ( WDC) is one of the companies pushing the Technology sector higher today. As of noon trading, Western Digital Corporation is up $1.16 (1.91) to $61.88 on average volume Thus far, 1.3 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2.9 million shares. The stock has ranged in price between $60.41-$61.95 after having opened the day at $60.69 as compared to the previous trading day's close of $60.72.

Western Digital Corporation, through its subsidiaries, engages in the development, manufacture, and sale of storage products and solutions that enable people to create, manage, experience and preserve digital content. Western Digital Corporation has a market cap of $14.1 billion and is part of the computer hardware industry. The company has a P/E ratio of 7.4, below the S&P 500 P/E ratio of 17.7. Shares are up 39.9% year to date as of the close of trading on Tuesday. Currently there are 7 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 10 rate it a hold.

TheStreet Ratings rates Western Digital 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, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Western Digital Corporation Ratings Report now.

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4. As of noon trading, Seagate Technology ( STX) is up $1.08 (2.60) to $42.60 on average volume Thus far, 3.8 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 5.5 million shares. The stock has ranged in price between $41.15-$42.88 after having opened the day at $41.15 as compared to the previous trading day's close of $41.52.

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 $14.7 billion and is part of the computer hardware industry. The company has a P/E ratio of 6.6, below the S&P 500 P/E ratio of 17.7. Shares are up 36.5% year to date as of the close of trading on Tuesday. Currently there are 4 analysts that rate Seagate Technology a buy, 3 analysts rate it a sell, and 14 rate it a hold.

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, notable return on equity 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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3. As of noon trading, Accenture ( ACN) is up $0.90 (1.08) to $83.80 on average volume Thus far, 1.6 million shares of Accenture exchanged hands as compared to its average daily volume of 2.8 million shares. The stock has ranged in price between $82.91-$84.21 after having opened the day at $82.97 as compared to the previous trading day's close of $82.90.

Accenture plc operates as a management consulting, technology services, and outsourcing company worldwide. Accenture has a market cap of $53.7 billion and is part of the computer software & services industry. The company has a P/E ratio of 17.9, above the S&P 500 P/E ratio of 17.7. Shares are up 24.7% year to date as of the close of trading on Tuesday. Currently there are 14 analysts that rate Accenture a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Accenture as a buy. The company's strengths can be seen in multiple areas, such as its 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 shows weak operating cash flow. Get the full Accenture Ratings Report now.

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2. As of noon trading, Hewlett-Packard ( HPQ) is up $0.35 (1.66) to $21.46 on average volume Thus far, 10.1 million shares of Hewlett-Packard exchanged hands as compared to its average daily volume of 22.3 million shares. The stock has ranged in price between $21.11-$21.47 after having opened the day at $21.17 as compared to the previous trading day's close of $21.11.

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 $41.2 billion and is part of the computer hardware industry. Shares are up 48.1% year to date as of the close of trading on Tuesday. Currently there are 2 analysts that rate Hewlett-Packard a buy, 6 analysts rate it a sell, and 15 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 generally high debt management risk, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and deteriorating net income. Get the full Hewlett-Packard Ratings Report now.

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1. As of noon trading, Apple ( AAPL) is up $5.14 (1.17) to $444.80 on average volume Thus far, 9.4 million shares of Apple exchanged hands as compared to its average daily volume of 16.9 million shares. The stock has ranged in price between $442.18-$448.35 after having opened the day at $444.05 as compared to the previous trading day's close of $439.66.

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 $415.8 billion and is part of the consumer durables industry. The company has a P/E ratio of 10.6, below the S&P 500 P/E ratio of 17.7. Shares are down 16.8% year to date as of the close of trading on Tuesday. Currently there are 27 analysts that rate Apple a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Apple as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, 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 lackluster performance in the stock itself. Get the full Apple Ratings Report now.

Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.

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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