5 Technology Stocks Driving The Sector Higher

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.

One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading down 23 points (-0.2%) at 15,311 as of Wednesday, Sept. 25, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,760 issues advancing vs. 1,167 declining with 109 unchanged.

The Technology sector currently sits up 0.6% versus the S&P 500, which is up 0.1%. Top gainers within the sector include Garmin ( GRMN), up 4.0%, Applied Materials ( AMAT), up 2.0%, Sap ( SAP), up 1.7%, Yahoo ( YHOO), up 1.4% and Accenture ( ACN), up 1.2%. On the negative front, top decliners within the sector include Tim Holding Company ( TSU), down 7.0%, Telecom Italia SpA ( TI), down 4.7%, Telecom Italia SpA ( TI.A), down 3.6%, Telefonica Brasil S.A ( VIV), down 3.1% and Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 2.9%.

TheStreet would like to highlight 5 stocks pushing the sector higher today:

5. ASML ( ASML) is one of the companies pushing the Technology sector higher today. As of noon trading, ASML is up $0.74 (0.8%) to $98.18 on light volume. Thus far, 322,961 shares of ASML exchanged hands as compared to its average daily volume of 908,800 shares. The stock has ranged in price between $97.17-$98.37 after having opened the day at $97.55 as compared to the previous trading day's close of $97.44.

ASML Holding NV engages in designing, manufacturing, marketing, and servicing semiconductor processing equipment used in the fabrication of integrated circuits or chips worldwide. ASML has a market cap of $42.5 billion and is part of the electronics industry. Shares are up 48.9% year to date as of the close of trading on Tuesday. Currently there are 8 analysts that rate ASML a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates ASML 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, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full ASML Ratings Report now.

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4. As of noon trading, Seagate Technology ( STX) is up $1.66 (4.0%) to $43.46 on heavy volume. Thus far, 3.2 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $41.80-$43.59 after having opened the day at $41.97 as compared to the previous trading day's close of $41.80.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. Seagate Technology has a market cap of $14.6 billion and is part of the computer hardware industry. Shares are up 34.6% year to date as of the close of trading on Tuesday. Currently there are 4 analysts that rate Seagate Technology a buy, 3 analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures 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 Seagate Technology 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.

3. As of noon trading, Salesforce.com ( CRM) is up $0.74 (1.4%) to $52.88 on light volume. Thus far, 1.4 million shares of Salesforce.com exchanged hands as compared to its average daily volume of 5.2 million shares. The stock has ranged in price between $52.00-$53.16 after having opened the day at $52.05 as compared to the previous trading day's close of $52.14.

salesforce.com, inc. provides enterprise cloud computing solutions to various businesses and industries worldwide. Salesforce.com has a market cap of $31.2 billion and is part of the computer software & services industry. Shares are up 24.6% year to date as of the close of trading on Tuesday. Currently there are 23 analysts that rate Salesforce.com a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates Salesforce.com as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk. Get the full Salesforce.com 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.

2. As of noon trading, Oracle Corporation ( ORCL) is up $0.36 (1.1%) to $34.00 on average volume. Thus far, 9.8 million shares of Oracle Corporation exchanged hands as compared to its average daily volume of 23.5 million shares. The stock has ranged in price between $33.70-$34.09 after having opened the day at $33.78 as compared to the previous trading day's close of $33.64.

Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems. Oracle Corporation has a market cap of $154.7 billion and is part of the computer software & services industry. Shares are up 1.9% year to date as of the close of trading on Tuesday. Currently there are 18 analysts that rate Oracle Corporation a buy, 1 analyst rates it a sell, and 9 rate it a hold.

TheStreet Ratings rates Oracle Corporation as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, attractive valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Oracle Corporation 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.

1. As of noon trading, Cisco Systems ( CSCO) is up $0.23 (0.9%) to $24.37 on light volume. Thus far, 11.4 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 33.0 million shares. The stock has ranged in price between $24.12-$24.45 after having opened the day at $24.19 as compared to the previous trading day's close of $24.14.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. Cisco Systems has a market cap of $130.2 billion and is part of the computer hardware industry. Shares are up 23.5% year to date as of the close of trading on Tuesday. Currently there are 23 analysts that rate Cisco Systems a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Cisco Systems 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, notable return on equity, attractive valuation levels and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Cisco Systems 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.

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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