3 Technology Stocks On The Rise

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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 18 points (0.1%) at 16,551 as of Wednesday, April 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,684 issues advancing vs. 1,250 declining with 198 unchanged.

The Technology sector currently sits up 0.1% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Acuity Brands ( AYI), up 3.5%, Alcatel-Lucent ( ALU), up 2.2%, Corning ( GLW), up 1.8%, Baidu ( BIDU), up 1.5% and Amphenol ( APH), up 1.4%. On the negative front, top decliners within the sector include SK Telecom ( SKM), down 4.9%, Qihoo 360 Technology ( QIHU), down 3.9%, China Telecom ( CHA), down 2.8%, NetEase ( NTES), down 2.8% and Vipshop Holdings ( VIPS), down 2.5%.

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

3. Lam Research Corporation ( LRCX) is one of the companies pushing the Technology sector higher today. As of noon trading, Lam Research Corporation is up $1.16 (2.1%) to $56.78 on average volume. Thus far, 1.1 million shares of Lam Research Corporation exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $55.44-$57.08 after having opened the day at $55.76 as compared to the previous trading day's close of $55.62.

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers plasma etch products that remove materials from the wafer to create the features and patterns of a device. Lam Research Corporation has a market cap of $8.9 billion and is part of the electronics industry. Shares are up 1.0% year-to-date as of the close of trading on Tuesday. Currently there are 13 analysts who rate Lam Research Corporation a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Lam Research 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, attractive valuation levels and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Lam Research 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, Cognizant Technology Solutions Corporation ( CTSH) is up $0.57 (1.1%) to $52.24 on average volume. Thus far, 1.6 million shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $52.00-$53.40 after having opened the day at $53.28 as compared to the previous trading day's close of $51.67.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates in four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. Cognizant Technology Solutions Corporation has a market cap of $30.7 billion and is part of the computer software & services industry. Shares are up 0.2% 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 2 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, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. 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.

1. As of noon trading, Verizon Communications ( VZ) is up $0.35 (0.7%) to $48.10 on light volume. Thus far, 13.0 million shares of Verizon Communications exchanged hands as compared to its average daily volume of 43.1 million shares. The stock has ranged in price between $47.63-$48.17 after having opened the day at $47.66 as compared to the previous trading day's close of $47.75.

Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide. Verizon Communications has a market cap of $196.9 billion and is part of the telecommunications industry. Shares are down 3.2% year-to-date as of the close of trading on Tuesday. Currently there are 21 analysts who rate Verizon Communications a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Verizon Communications 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).
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