3 Technology Stocks Dragging The Sector Down

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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.

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