3 Stocks Dragging The Technology Sector 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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 118 points (0.7%) at 16,381 as of Wednesday, April 16, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,313 issues advancing vs. 673 declining with 149 unchanged.

The Technology sector currently sits up 0.8% versus the S&P 500, which is up 0.7%. On the negative front, top decliners within the sector include Linear Technology ( LLTC), down 4.3%, Texas Instruments ( TXN), down 1.6% and Taiwan Semiconductor Manufacturing ( TSM), down 1.2%. Top gainers within the sector include Yahoo ( YHOO), up 6.2%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), up 1.5%, Emerson Electric ( EMR), up 1.4%, LM Ericsson Telephone Company ( ERIC), up 1.3% and Eaton Corporation ( ETN), up 1.2%.

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

3. Analog Devices ( ADI) is one of the companies pushing the Technology sector lower today. As of noon trading, Analog Devices is down $1.19 (-2.2%) to $51.99 on heavy volume. Thus far, 1.7 million shares of Analog Devices exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $51.34-$53.15 after having opened the day at $53.15 as compared to the previous trading day's close of $53.18.

Analog Devices, Inc. is engaged in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits (ICs) for use in industrial, automotive, consumer, and communication markets worldwide. Analog Devices has a market cap of $16.4 billion and is part of the electronics industry. Shares are up 4.4% year-to-date as of the close of trading on Tuesday. Currently there are 11 analysts that rate Analog Devices a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Analog Devices as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Analog Devices Ratings Report now.

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2. As of noon trading, NetApp ( NTAP) is down $0.84 (-2.3%) to $36.16 on average volume. Thus far, 2.1 million shares of NetApp exchanged hands as compared to its average daily volume of 5.4 million shares. The stock has ranged in price between $35.74-$36.89 after having opened the day at $36.81 as compared to the previous trading day's close of $37.00.

NetApp, Inc. engages in design, manufacture, and marketing of networked storage solutions. The company supplies enterprise storage and data management software and hardware products and services. NetApp has a market cap of $12.2 billion and is part of the computer hardware industry. Shares are down 10.1% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts that rate NetApp a buy, 3 analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates NetApp as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full NetApp Ratings Report now.

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1. As of noon trading, EMC Corporation ( EMC) is down $0.31 (-1.1%) to $26.61 on average volume. Thus far, 9.6 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 22.6 million shares. The stock has ranged in price between $26.57-$27.14 after having opened the day at $27.08 as compared to the previous trading day's close of $26.92.

EMC Corporation develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. It operates in three segments: Information Storage, Information Intelligence Group, and RSA Information Security. EMC Corporation has a market cap of $54.2 billion and is part of the computer hardware industry. Shares are up 7.0% year-to-date as of the close of trading on Tuesday. Currently there are 21 analysts that rate EMC Corporation a buy, no analysts rate it a sell, and 4 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, good cash flow from operations, solid stock price performance and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full EMC Corporation Ratings Report now.

STOCKS TO BUY: 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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