5 Stocks Pulling The Technology Sector Downward

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 lower today with the Dow Jones Industrial Average ( ^DJI) trading up 22 points (0.1%) at 15,897 as of Wednesday, Dec. 18, 2013, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,497 issues advancing vs. 1,411 declining with 169 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Jabil Circuit ( JBL), down 21.4%, Micron Technology ( MU), down 8.4%, LinkedIn ( LNKD), down 5.4%, Telefonica Brasil S.A ( VIV), down 2.2% and Hewlett-Packard ( HPQ), down 1.8%. Top gainers within the sector include Nokia Oyj ( NOK), up 3.3%, Kyocera Corporation ( KYO), up 2.8%, Automatic Data Processing ( ADP), up 1.4%, China Unicom (Hong Kong ( CHU), up 1.3% and Intel ( INTC), up 1.2%.

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

5. Taiwan Semiconductor Manufacturing ( TSM) is one of the companies pushing the Technology sector lower today. As of noon trading, Taiwan Semiconductor Manufacturing is down $0.24 (-1.4%) to $16.84 on average volume. Thus far, 7.0 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 9.9 million shares. The stock has ranged in price between $16.74-$17.03 after having opened the day at $17.01 as compared to the previous trading day's close of $17.08.

Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices. Taiwan Semiconductor Manufacturing has a market cap of $88.7 billion and is part of the electronics industry. The company has a P/E ratio of 16.3, below the S&P 500 P/E ratio of 17.7. Shares are down 0.3% year to date as of the close of trading on Tuesday. Currently there are 2 analysts that rate Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Taiwan Semiconductor Manufacturing 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, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Taiwan Semiconductor Manufacturing 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.

4. As of noon trading, Western Digital Corporation ( WDC) is down $2.14 (-2.6%) to $81.26 on heavy volume. Thus far, 1.9 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $80.59-$83.30 after having opened the day at $83.28 as compared to the previous trading day's close of $83.40.

Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content. Western Digital Corporation has a market cap of $19.3 billion and is part of the computer hardware industry. The company has a P/E ratio of 20.6, above the S&P 500 P/E ratio of 17.7. Shares are up 96.3% year to date as of the close of trading on Tuesday. Currently there are 7 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates Western Digital Corporation as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Western Digital 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.

3. As of noon trading, Qihoo 360 Technology ( QIHU) is down $4.18 (-5.4%) to $73.30 on heavy volume. Thus far, 2.9 million shares of Qihoo 360 Technology exchanged hands as compared to its average daily volume of 2.8 million shares. The stock has ranged in price between $73.13-$77.91 after having opened the day at $77.91 as compared to the previous trading day's close of $77.48.

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products in the People's Republic of China. Qihoo 360 Technology has a market cap of $9.4 billion and is part of the internet industry. The company has a P/E ratio of 94.8, above the S&P 500 P/E ratio of 17.7. Shares are up 161.0% year to date as of the close of trading on Tuesday. Currently there are 6 analysts that rate Qihoo 360 Technology a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Qihoo 360 Technology as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. Get the full Qihoo 360 Technology 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, Qualcomm ( QCOM) is down $0.61 (-0.8%) to $72.31 on light volume. Thus far, 2.4 million shares of Qualcomm exchanged hands as compared to its average daily volume of 10.0 million shares. The stock has ranged in price between $72.30-$73.00 after having opened the day at $72.70 as compared to the previous trading day's close of $72.92.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $123.0 billion and is part of the telecommunications industry. The company has a P/E ratio of 18.6, above the S&P 500 P/E ratio of 17.7. Shares are up 17.7% year to date as of the close of trading on Tuesday. Currently there are 22 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Qualcomm as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Qualcomm 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, Microsoft Corporation ( MSFT) is down $0.48 (-1.3%) to $36.04 on average volume. Thus far, 17.9 million shares of Microsoft Corporation exchanged hands as compared to its average daily volume of 41.9 million shares. The stock has ranged in price between $35.91-$36.39 after having opened the day at $36.36 as compared to the previous trading day's close of $36.52.

Microsoft Corporation (Microsoft) develops, licenses, and supports software, services, and hardware devices worldwide. Microsoft Corporation has a market cap of $307.9 billion and is part of the computer software & services industry. The company has a P/E ratio of 13.8, below the S&P 500 P/E ratio of 17.7. Shares are up 38.1% year to date as of the close of trading on Tuesday. Currently there are 10 analysts that rate Microsoft Corporation a buy, 1 analyst rates it a sell, and 13 rate it a hold.

TheStreet Ratings rates Microsoft Corporation 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. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Microsoft 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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