3 Technology Stocks Dragging The Sector Down

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 22 points (0.1%) at 15,424 as of Tuesday, Sept. 24, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,875 issues advancing vs. 1,030 declining with 132 unchanged.

The Technology sector currently sits up 0.5% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the sector include Red Hat ( RHT), down 10.8%, China Unicom (Hong Kong ( CHU), down 2.8%, Citrix Systems ( CTXS), down 2.6%, Teradata Corporation ( TDC), down 2.3% and China Telecom ( CHA), down 1.8%. Top gainers within the sector include Applied Materials ( AMAT), up 7.4%, Tim Holding Company ( TSU), up 6.9%, Telefonica Brasil S.A ( VIV), up 4.3%, Lam Research Corporation ( LRCX), up 4.2% and LinkedIn ( LNKD), up 3.9%.

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

3. Cypress Semiconductor Corporation ( CY) is one of the companies pushing the Technology sector lower today. As of noon trading, Cypress Semiconductor Corporation is down $1.52 (-13.4%) to $9.82 on heavy volume. Thus far, 10.9 million shares of Cypress Semiconductor Corporation exchanged hands as compared to its average daily volume of 2.7 million shares. The stock has ranged in price between $9.82-$10.55 after having opened the day at $10.53 as compared to the previous trading day's close of $11.34.

Cypress Semiconductor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets mixed-signal, programmable solutions, specialized semiconductor memories, and integrated semiconductor solutions. Cypress Semiconductor Corporation has a market cap of $1.7 billion and is part of the electronics industry. Shares are up 6.1% year to date as of the close of trading on Monday. Currently there are 3 analysts that rate Cypress Semiconductor Corporation a buy, 2 analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Cypress Semiconductor Corporation as a hold. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow. Get the full Cypress Semiconductor Corporation Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

2. As of noon trading, Broadcom Corporation ( BRCM) is down $0.55 (-2.0%) to $26.55 on average volume. Thus far, 5.0 million shares of Broadcom Corporation exchanged hands as compared to its average daily volume of 10.9 million shares. The stock has ranged in price between $26.42-$26.80 after having opened the day at $26.79 as compared to the previous trading day's close of $27.10.

Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. Broadcom Corporation has a market cap of $14.5 billion and is part of the electronics industry. Shares are down 17.7% year to date as of the close of trading on Monday. Currently there are 25 analysts that rate Broadcom Corporation a buy, 1 analyst rates it a sell, and 10 rate it a hold.

TheStreet Ratings rates Broadcom Corporation as a hold. 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 and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. Get the full Broadcom Corporation Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

1. As of noon trading, EMC Corporation ( EMC) is down $0.34 (-1.3%) to $25.90 on heavy volume. Thus far, 12.4 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 15.6 million shares. The stock has ranged in price between $25.50-$25.94 after having opened the day at $25.81 as compared to the previous trading day's close of $26.24.

EMC Corporation, together with its subsidiaries, develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. EMC Corporation has a market cap of $55.0 billion and is part of the computer hardware industry. Shares are up 4.5% year to date as of the close of trading on Monday. Currently there are 27 analysts that rate EMC Corporation a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates EMC Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full EMC Corporation Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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).

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