5 Technology Stocks Moving The Sector Upward

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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 57 points (-0.3%) at 16,357 as of Wednesday, Jan. 22, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,698 issues advancing vs. 1,213 declining with 185 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is down 0.1%. Top gainers within the sector include America Movil S.A.B. de C.V ( AMOV), up 6.2%, Cerner Corporation ( CERN), up 2.9%, China Telecom ( CHA), up 2.4%, China Unicom (Hong Kong ( CHU), up 1.9% and Apple ( AAPL), up 1.2%. On the negative front, top decliners within the sector include ABB ( ABB), down 4.1%, International Business Machines ( IBM), down 3.8%, Telefonica ( TEF), down 1.6%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.2% and Amazon.com ( AMZN), down 1.0%.

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 $4.20 (4.8%) to $91.35 on heavy volume. Thus far, 2.3 million shares of ASML exchanged hands as compared to its average daily volume of 1.0 million shares. The stock has ranged in price between $90.66-$92.29 after having opened the day at $91.43 as compared to the previous trading day's close of $87.15.

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 $37.4 billion and is part of the electronics industry. Shares are down 7.0% year-to-date as of the close of trading on Tuesday. Currently there are 6 analysts who rate ASML a buy, 2 analysts rate it a sell, and 2 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, expanding profit margins and reasonable valuation levels. 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.

3x UPSIDE POTENTIAL: 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, TE Connectivity ( TEL) is up $3.50 (6.2%) to $59.80 on heavy volume. Thus far, 2.2 million shares of TE Connectivity exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $58.00-$61.14 after having opened the day at $58.05 as compared to the previous trading day's close of $56.30.

TE Connectivity Ltd., together with its subsidiaries, designs and manufactures products that connect power, data, and signal automotive, energy, industrial, broadband communications, consumer devices, aerospace and defense, and healthcare industries. TE Connectivity has a market cap of $23.0 billion and is part of the electronics industry. The company has a P/E ratio of 18.5, above the S&P 500 P/E ratio of 17.7. Shares are up 2.2% year-to-date as of the close of trading on Tuesday. Currently there are 3 analysts who rate TE Connectivity a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates TE Connectivity as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full TE Connectivity 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, Cognizant Technology Solutions Corporation ( CTSH) is up $1.55 (1.6%) to $100.47 on light volume. Thus far, 626,303 shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $98.40-$100.69 after having opened the day at $99.06 as compared to the previous trading day's close of $98.92.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Manufacturing, Retail, and Logistics; and Other. Cognizant Technology Solutions Corporation has a market cap of $30.1 billion and is part of the computer software & services industry. The company has a P/E ratio of 25.5, above the S&P 500 P/E ratio of 17.7. Shares are down 2.0% year-to-date as of the close of trading on Tuesday. Currently there are 13 analysts who rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Cognizant Technology Solutions Corporation 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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Cognizant Technology Solutions 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.

2. As of noon trading, Taiwan Semiconductor Manufacturing ( TSM) is up $0.23 (1.3%) to $17.92 on average volume. Thus far, 5.5 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 10.1 million shares. The stock has ranged in price between $17.72-$17.96 after having opened the day at $17.77 as compared to the previous trading day's close of $17.69.

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 $92.1 billion and is part of the electronics industry. The company has a P/E ratio of 16.9, below the S&P 500 P/E ratio of 17.7. Shares are up 1.4% year-to-date as of the close of trading on Tuesday. Currently there are 2 analysts who rate Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and none rate 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 and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Taiwan Semiconductor Manufacturing 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, Texas Instruments ( TXN) is up $0.58 (1.3%) to $44.42 on heavy volume. Thus far, 4.5 million shares of Texas Instruments exchanged hands as compared to its average daily volume of 5.7 million shares. The stock has ranged in price between $43.55-$44.71 after having opened the day at $43.70 as compared to the previous trading day's close of $43.85.

Texas Instruments Incorporated engages in the design, manufacture, sale of semiconductors to electronics designers and manufacturers worldwide. The company operates in four segments: Analog, Embedded Processing, Wireless, and Other. Texas Instruments has a market cap of $47.6 billion and is part of the electronics industry. The company has a P/E ratio of 25.7, above the S&P 500 P/E ratio of 17.7. Shares are down 0.1% year-to-date as of the close of trading on Tuesday. Currently there are 6 analysts who rate Texas Instruments a buy, 3 analysts rate it a sell, and 17 rate it a hold.

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