5 Stocks Underperforming Today In The Technology Sector

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 71 points (-0.4%) at 16,411 as of Thursday, Jan. 16, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,418 issues advancing vs. 1,488 declining with 174 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include ASML ( ASML), down 4.5%, Alcatel-Lucent ( ALU), down 2.8%, China Unicom (Hong Kong ( CHU), down 2.2%, Mobile Telesystems OJSC ( MBT), down 1.5% and Micron Technology ( MU), down 1.4%. Top gainers within the sector include SolarCity ( SCTY), up 9.5%, CommVault Systems ( CVLT), up 7.1%, Wipro ( WIT), up 5.2%, 3D Systems Corporation ( DDD), up 3.4% and CGI Group ( GIB), up 2.7%.

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

5. Avago Technologies ( AVGO) is one of the companies pushing the Technology sector lower today. As of noon trading, Avago Technologies is down $1.51 (-2.6%) to $55.46 on average volume. Thus far, 1.1 million shares of Avago Technologies exchanged hands as compared to its average daily volume of 2.4 million shares. The stock has ranged in price between $55.15-$56.96 after having opened the day at $56.76 as compared to the previous trading day's close of $56.97.

Avago Technologies Limited is engaged in the design, development, and supply of analog semiconductor devices with a focus on III-V based products. Avago Technologies has a market cap of $13.8 billion and is part of the electronics industry. The company has a P/E ratio of 25.2, above the S&P 500 P/E ratio of 17.7. Shares are up 7.7% year-to-date as of the close of trading on Wednesday. Currently there are 10 analysts that rate Avago Technologies a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Avago Technologies 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, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Avago Technologies Ratings Report now.

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