3 Stocks Pulling 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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 74 points (-0.4%) at 17,027 as of Monday, July 21, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 889 issues advancing vs. 2,085 declining with 146 unchanged.

The Technology sector currently sits down 0.2% versus the S&P 500, which is down 0.4%. On the negative front, top decliners within the sector include Mobile Telesystems OJSC ( MBT), down 5.8%, VimpelCom ( VIP), down 3.9%, Yandex ( YNDX), down 3.6%, LG Display ( LPL), down 3.3% and Telecom Italia SpA ( TI), down 2.2%.

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

3. SanDisk ( SNDK) is one of the companies pushing the Technology sector lower today. As of noon trading, SanDisk is down $1.63 (-1.7%) to $92.89 on heavy volume. Thus far, 3.0 million shares of SanDisk exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $92.76-$94.40 after having opened the day at $94.39 as compared to the previous trading day's close of $94.52.

SanDisk Corporation designs, develops, manufactures, and markets data storage products that are used in various consumer electronics products. SanDisk has a market cap of $24.4 billion and is part of the computer hardware industry. Shares are up 34.0% year-to-date as of the close of trading on Friday. Currently there are 17 analysts that rate SanDisk a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates SanDisk 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, growth in earnings per share, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full SanDisk Ratings Report now.

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