ALTR, EMR And BRCM, Pushing 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.

One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading down 14 points (-0.1%) at 16,140 as of Tuesday, Feb. 18, 2014, 12:00 PM ET. The NYSE advances/declines ratio sits at 2,063 issues advancing vs. 873 declining with 164 unchanged.

The Electronics industry currently sits up 0.7% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the industry include Semiconductor Manufacturing International C ( SMI), down 19.0%, LG.Display Company ( LPL), down 1.6% and ABB ( ABB), down 0.8%. Top gainers within the industry include Cognex Corporation ( CGNX), up 6.8%, Cree ( CREE), up 2.9%, Marvell Technology Group ( MRVL), up 2.5%, SunPower Corporation ( SPWR), up 2.3% and Kyocera Corporation ( KYO), up 1.8%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Altera ( ALTR) is one of the companies pushing the Electronics industry lower today. As of noon trading, Altera is down $0.22 (-0.6%) to $34.54 on light volume. Thus far, 1.1 million shares of Altera exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $34.41-$34.76 after having opened the day at $34.61 as compared to the previous trading day's close of $34.76.

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 $11.2 billion and is part of the technology sector. Shares are up 6.9% year-to-date as of the close of trading on Friday. Currently there are 9 analysts that rate Altera a buy, 2 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Altera as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself. Get the full Altera Ratings Report now.

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