InvenSense Inc (INVN): Today's Featured Technology Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

InvenSense ( INVN) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 0.7%. By the end of trading, InvenSense rose $0.64 (3.9%) to $16.96 on average volume. Throughout the day, 3,763,990 shares of InvenSense exchanged hands as compared to its average daily volume of 2,560,900 shares. The stock ranged in a price between $16.01-$17.10 after having opened the day at $16.25 as compared to the previous trading day's close of $16.32. Other companies within the Technology sector that increased today were: Alvarion ( ALVR), up 127.5%, EFuture Information Technology ( EFUT), up 34.1%, Internet Gold Golden Lines ( IGLD), up 12.7% and Bitauto Holdings ( BITA), up 11.7%.

InvenSense, Inc. designs, develops, markets, and sells micro-electro-mechanical system (MEMS) gyroscopes for motion tracking devices in consumer electronics. InvenSense has a market cap of $1.4 billion and is part of the electronics industry. Shares are up 46.9% year to date as of the close of trading on Friday. Currently there are 6 analysts that rate InvenSense a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates InvenSense as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation.

On the negative front, TranSwitch Corporation ( TXCC), down 29.1%, NTELOS Holdings ( NTLS), down 16.2%, ChinaNet Online Holdings ( CNET), down 14.5% and Helios and Matheson Analytics ( HMNY), down 14.1% , were all laggards within the technology sector with America Movil S.A.B. de C.V ( AMX) being today's technology sector laggard.

For investors not wanting singular stock exposure, 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).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you liked this article you might like

Analysts' Actions -- Ameriprise, Nucor, Boston Beer, Texas Instruments and More

How to Trade Wednesday's Most Active Stocks - InvenSense, Twitter, Finish Line and More

TDK to Purchase InvenSense in $1.3B Cash Deal

TDK Snaps Up Apple Supplier InvenSense for $1.3 Billion

Apple Supplier InvenSense Could Be The Next Takeover Target in Chips