3 Technology Stocks Pushing Sector Growth

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 78 points (0.5%) at 16,105 as of Friday, Feb. 14, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,755 issues advancing vs. 1,149 declining with 181 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is up 0.3%. Top gainers within the sector include Cray ( CRAY), up 34.9%, Bankrate ( RATE), up 13.4%, 3D Systems Corporation ( DDD), up 5.2%, NXP Semiconductor ( NXPI), up 3.0% and Cisco Systems ( CSCO), up 1.9%. On the negative front, top decliners within the sector include Agilent Technologies ( A), down 6.9%, Baidu ( BIDU), down 1.6%, Telecom Italia SpA ( TI.A), down 1.6%, Avago Technologies ( AVGO), down 1.5% and Telecom Italia SpA ( TI), down 1.4%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Stratasys ( SSYS) is one of the companies pushing the Technology sector higher today. As of noon trading, Stratasys is up $5.75 (4.9%) to $123.98 on average volume. Thus far, 644,931 shares of Stratasys exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $120.11-$124.20 after having opened the day at $120.15 as compared to the previous trading day's close of $118.23.

Stratasys Ltd. provides additive manufacturing (AM) solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. Stratasys has a market cap of $5.6 billion and is part of the computer hardware industry. Shares are down 12.2% year-to-date as of the close of trading on Thursday. Currently there are 12 analysts who rate Stratasys a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Stratasys as a hold. 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 and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. Get the full Stratasys 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 $0.42 (2.4%) to $17.87 on average volume. Thus far, 4.4 million shares of Taiwan Semiconductor Manufacturing exchanged hands as compared to its average daily volume of 10.6 million shares. The stock has ranged in price between $17.60-$17.90 after having opened the day at $17.61 as compared to the previous trading day's close of $17.45.

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 $90.1 billion and is part of the electronics industry. Shares are up 0.1% year-to-date as of the close of trading on Thursday. 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. Among the primary strengths of the company is its revenue growth. 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, EMC Corporation ( EMC) is up $0.51 (2.0%) to $25.59 on average volume. Thus far, 9.9 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 23.9 million shares. The stock has ranged in price between $25.05-$25.62 after having opened the day at $25.11 as compared to the previous trading day's close of $25.08.

EMC Corporation, together with its subsidiaries, develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. EMC Corporation has a market cap of $51.6 billion and is part of the computer hardware industry. Shares are down 0.2% year-to-date as of the close of trading on Thursday. Currently there are 20 analysts who rate EMC Corporation a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates EMC Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full EMC 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.

If you are interested in one of these 3 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).

null

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%