3 Stocks Boosting The Technology Sector Higher

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 72 points (-0.5%) at 15,564 as of Friday, Sept. 20, 2013, 12:54 PM ET. The NYSE advances/declines ratio sits at 854 issues advancing vs. 2,087 declining with 92 unchanged.

The Technology sector currently sits down 0.3% versus the S&P 500, which is down 0.4%. Top gainers within the sector include ASML ( ASML), up 2.1%, eBay ( EBAY), up 1.1%, Amazon.com ( AMZN), up 1.1% and NTT DoCoMo ( DCM), up 0.6%. On the negative front, top decliners within the sector include Telecom Italia SpA ( TI), down 3.5%, Catamaran ( CTRX), down 3.5%, Kyocera Corporation ( KYO), down 3.0%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 2.4% and LM Ericsson Telephone Company ( ERIC), down 1.6%.

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

3. Avago Technologies ( AVGO) is one of the companies pushing the Technology sector higher today. As of noon trading, Avago Technologies is up $1.60 (3.9%) to $42.35 on heavy volume. Thus far, 3.5 million shares of Avago Technologies exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $40.83-$42.58 after having opened the day at $41.16 as compared to the previous trading day's close of $40.75.

Avago Technologies Limited engages in the design, development, and supply of analog semiconductor devices with a focus on III-V based products. Avago Technologies has a market cap of $9.9 billion and is part of the electronics industry. Shares are up 26.8% year to date as of the close of trading on Thursday. Currently there are 10 analysts that rate Avago Technologies a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Avago Technologies 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, good cash flow from operations and increase in stock price during the past year. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Avago Technologies Ratings Report now.

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

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