3 Stocks Dragging The 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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 4 points (0.0%) at 16,511 as of Wednesday, April 23, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,718 issues advancing vs. 1,280 declining with 133 unchanged.

The Electronics industry currently sits down 0.1% versus the S&P 500, which is down 0.1%. A company within the industry that fell today was Taiwan Semiconductor Manufacturing ( TSM), up 1.0%. Top gainers within the industry include Sanmina ( SANM), up 14.6%, SunPower ( SPWR), up 10.2%, Cognex ( CGNX), up 7.5% and United Microelectronics ( UMC), up 2.4%.

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

3. Cree ( CREE) is one of the companies pushing the Electronics industry lower today. As of noon trading, Cree is down $6.56 (-11.3%) to $51.49 on heavy volume. Thus far, 9.0 million shares of Cree exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $51.41-$53.40 after having opened the day at $53.05 as compared to the previous trading day's close of $58.05.

Cree, Inc. develops, manufactures, and sells lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, and Taiwan. Cree has a market cap of $7.0 billion and is part of the technology sector. Shares are down 7.2% year-to-date as of the close of trading on Tuesday. Currently there are 7 analysts that rate Cree a buy, 2 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Cree 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 lackluster performance in the stock itself. Get the full Cree 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.

2. As of noon trading, TE Connectivity ( TEL) is down $0.67 (-1.1%) to $60.67 on average volume. Thus far, 898,073 shares of TE Connectivity exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $60.24-$61.78 after having opened the day at $61.01 as compared to the previous trading day's close of $61.34.

TE Connectivity Ltd., together with its subsidiaries, designs and manufactures products that connect power, data, and signal automotive, energy, industrial, broadband communications, consumer devices, aerospace and defense, and healthcare industries. TE Connectivity has a market cap of $25.2 billion and is part of the technology sector. Shares are up 11.3% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts that rate TE Connectivity a buy, no analysts rate it a sell, and 2 rate it a hold.

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

1. As of noon trading, Applied Materials ( AMAT) is down $0.12 (-0.6%) to $19.24 on light volume. Thus far, 5.2 million shares of Applied Materials exchanged hands as compared to its average daily volume of 14.9 million shares. The stock has ranged in price between $19.20-$19.50 after having opened the day at $19.36 as compared to the previous trading day's close of $19.36.

Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, flat panel display, solar photovoltaic (PV), and related industries worldwide. Applied Materials has a market cap of $23.2 billion and is part of the technology sector. Shares are up 9.5% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Applied Materials a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates Applied Materials as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Applied Materials 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 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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