3 Electronics Stocks Nudging The Industry Higher

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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 17 points (-0.1%) at 16,556 as of Thursday, April 3, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,086 issues advancing vs. 1,855 declining with 176 unchanged.

The Electronics industry currently sits down 0.9% versus the S&P 500, which is down 0.3%. Top gainers within the industry include AU Optronics Corporation ( AUO), up 5.5%, Intel ( INTC), up 1.5%, Corning ( GLW), up 0.8% and Eaton Corporation ( ETN), up 0.4%. On the negative front, top decliners within the industry include Micron Technology ( MU), down 2.0%, TE Connectivity ( TEL), down 0.7% and ABB ( ABB), down 0.7%.

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

3. ON Semiconductor Corporation ( ONNN) is one of the companies pushing the Electronics industry higher today. As of noon trading, ON Semiconductor Corporation is up $0.32 (3.3%) to $9.82 on heavy volume. Thus far, 12.0 million shares of ON Semiconductor Corporation exchanged hands as compared to its average daily volume of 7.0 million shares. The stock has ranged in price between $9.66-$9.94 after having opened the day at $9.70 as compared to the previous trading day's close of $9.50.

ON Semiconductor Corporation designs, manufactures, and markets semiconductor components for electronic systems and products worldwide. It operates in three segments: Application Products Group, Standard Products Group, and System Solutions Group. ON Semiconductor Corporation has a market cap of $4.2 billion and is part of the technology sector. Shares are up 15.3% year-to-date as of the close of trading on Wednesday. Currently there are 11 analysts who rate ON Semiconductor Corporation a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates ON Semiconductor Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full ON Semiconductor Corporation Ratings Report now.

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2. As of noon trading, Altera ( ALTR) is up $0.78 (2.1%) to $36.88 on heavy volume. Thus far, 3.0 million shares of Altera exchanged hands as compared to its average daily volume of 3.3 million shares. The stock has ranged in price between $36.20-$37.16 after having opened the day at $36.37 as compared to the previous trading day's close of $36.10.

Altera Corporation, a semiconductor company, designs, manufactures, and sells programmable logic devices (PLD), HardCopy application-specific integrated circuit (ASIC) devices, power system-on-chip devices (PowerSoCs), pre-defined design building blocks, and proprietary development software. Altera has a market cap of $11.6 billion and is part of the technology sector. Shares are up 11.0% year-to-date as of the close of trading on Wednesday. Currently there are 10 analysts who rate Altera a buy, 2 analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Altera as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins 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 Altera 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, NVIDIA Corporation ( NVDA) is up $0.34 (1.8%) to $18.87 on heavy volume. Thus far, 8.9 million shares of NVIDIA Corporation exchanged hands as compared to its average daily volume of 8.5 million shares. The stock has ranged in price between $18.56-$19.18 after having opened the day at $18.57 as compared to the previous trading day's close of $18.53.

NVIDIA Corporation operates as a visual computing company. The company operates through two segments, GPU and Tegra Processors. NVIDIA Corporation has a market cap of $10.3 billion and is part of the technology sector. Shares are up 15.7% year-to-date as of the close of trading on Wednesday. Currently there are 9 analysts who rate NVIDIA Corporation a buy, 3 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates NVIDIA Corporation as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, 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 NVIDIA 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 electronics industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the electronics industry could consider ProShares Ultra Short Semiconductor ( SSG).

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