5 Stocks Pulling The Electronics Industry 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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 3 points (0.0%) at 16,165 as of Thursday, Dec. 19, 2013, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,090 issues advancing vs. 1,843 declining with 148 unchanged.

The Electronics industry currently sits down 0.2% versus the S&P 500, which is down 0.2%. On the negative front, top decliners within the industry include Semtech Corporation ( SMTC), down 13.1%, LG.Display Company ( LPL), down 3.1%, Maxim Integrated Products ( MXIM), down 2.4%, STMicroelectronics ( STM), down 2.0% and Linear Technology ( LLTC), down 1.4%. Top gainers within the industry include CSR ( CSRE), up 5.1%, ABB ( ABB), up 1.0%, ASML ( ASML), up 0.8% and Micron Technology ( MU), up 0.8%.

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

5. Altera ( ALTR) is one of the companies pushing the Electronics industry lower today. As of noon trading, Altera is down $0.47 (-1.5%) to $31.37 on average volume. Thus far, 1.5 million shares of Altera exchanged hands as compared to its average daily volume of 3.3 million shares. The stock has ranged in price between $31.14-$31.75 after having opened the day at $31.53 as compared to the previous trading day's close of $31.84.

Altera Corporation, a semiconductor company, designs, manufactures, and markets programmable logic devices (PLD), HardCopy application-specific integrated circuit (ASIC) devices, pre-defined design building blocks, and proprietary development software. Altera has a market cap of $10.1 billion and is part of the technology sector. The company has a P/E ratio of 22.1, above the S&P 500 P/E ratio of 17.7. Shares are down 7.4% year to date as of the close of trading on Wednesday. Currently there are 9 analysts that rate Altera a buy, 2 analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Altera as a hold. The company's strengths can be seen in multiple areas, such as its 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 feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. Get the full Altera Ratings Report now.

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