3 Technology Stocks Pushing The Sector 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 89 points (-0.5%) at 16,857 as of Wednesday, June 11, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,007 issues advancing vs. 1,935 declining with 173 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is down 0.3%. Top gainers within the sector include Micron Technology ( MU), up 5.6%, Infosys ( INFY), up 4.8%, SanDisk ( SNDK), up 3.7%, Nippon Telegraph & Telephone ( NTT), up 2.6% and Amazon.com ( AMZN), up 1.4%. On the negative front, top decliners within the sector include Turkcell Iletisim Hizmetleri AS ( TKC), down 2.1%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.6%, ABB ( ABB), down 1.3%, Telefonica ( TEF), down 0.9% and Intel ( INTC), down 0.9%.

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

3. Synaptics ( SYNA) is one of the companies pushing the Technology sector higher today. As of noon trading, Synaptics is up $17.47 (26.3%) to $83.99 on heavy volume. Thus far, 7.3 million shares of Synaptics exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $77.03-$86.70 after having opened the day at $77.03 as compared to the previous trading day's close of $66.52.

Synaptics Incorporated develops, markets, and sells custom-designed human interface solutions for electronic devices and products primarily in China, South Korea, Taiwan, Japan, and the United States. Synaptics has a market cap of $2.4 billion and is part of the computer software & services industry. Shares are up 30.1% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts who rate Synaptics a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Synaptics 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Synaptics Ratings Report now.

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2. As of noon trading, Skyworks Solutions ( SWKS) is up $1.27 (2.7%) to $48.15 on average volume. Thus far, 2.2 million shares of Skyworks Solutions exchanged hands as compared to its average daily volume of 3.1 million shares. The stock has ranged in price between $46.93-$48.28 after having opened the day at $46.98 as compared to the previous trading day's close of $46.88.

Skyworks Solutions, Inc., together with its subsidiaries, provides analog semiconductors worldwide. Skyworks Solutions has a market cap of $8.9 billion and is part of the electronics industry. Shares are up 64.2% year-to-date as of the close of trading on Tuesday. Currently there are 11 analysts who rate Skyworks Solutions a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Skyworks Solutions 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, solid stock price performance, impressive record of earnings per share growth and good cash flow from operations. 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 Skyworks Solutions 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, Qihoo 360 Technology ( QIHU) is up $4.09 (4.8%) to $89.41 on average volume. Thus far, 1.4 million shares of Qihoo 360 Technology exchanged hands as compared to its average daily volume of 3.4 million shares. The stock has ranged in price between $84.20-$89.76 after having opened the day at $85.30 as compared to the previous trading day's close of $85.32.

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products and services in the People's Republic of China. Qihoo 360 Technology has a market cap of $10.7 billion and is part of the computer software & services industry. Shares are up 4.0% year-to-date as of the close of trading on Tuesday. Currently there are 9 analysts who rate Qihoo 360 Technology a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Qihoo 360 Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Qihoo 360 Technology 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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