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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