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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 67 points (-0.4%) at 17,031 as of Tuesday, Sept. 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,211 issues advancing vs. 1,801 declining with 159 unchanged.

The Technology sector currently sits up 0.5% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include Micron Technology ( MU), down 2.8%, Telecom Italia SpA ( TI), down 2.1%, Qualcomm ( QCOM), down 1.6%, Applied Materials ( AMAT), down 1.4% and LM Ericsson Telephone Company ( ERIC), down 1.4%. Top gainers within the sector include Splunk ( SPLK), up 6.4%, China Telecom ( CHA), up 4.4%, ASML ( ASML), up 3.7%, SK Telecom ( SKM), up 2.7% and Avago Technologies ( AVGO), up 2.5%.

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 $2.30 (-2.4%) to $95.66 on average volume. Thus far, 2.3 million shares of SanDisk exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $95.15-$98.10 after having opened the day at $98.10 as compared to the previous trading day's close of $97.96.

SanDisk Corporation designs, develops, manufactures, and markets data storage products that are used in various consumer electronics products. SanDisk has a market cap of $22.0 billion and is part of the computer hardware industry. Shares are up 38.9% year-to-date as of the close of trading on Friday. Currently there are 16 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, 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 SanDisk Ratings Report now.

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2. As of noon trading, Cisco Systems ( CSCO) is down $0.23 (-0.9%) to $24.76 on light volume. Thus far, 8.5 million shares of Cisco Systems exchanged hands as compared to its average daily volume of 25.6 million shares. The stock has ranged in price between $24.76-$25.00 after having opened the day at $24.94 as compared to the previous trading day's close of $24.99.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. Cisco Systems has a market cap of $128.0 billion and is part of the computer hardware industry. Shares are up 11.4% year-to-date as of the close of trading on Friday. Currently there are 16 analysts that rate Cisco Systems a buy, 1 analyst rates it a sell, and 8 rate it a hold.

TheStreet Ratings rates Cisco Systems as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Cisco Systems Ratings Report now.

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1. As of noon trading, International Business Machines ( IBM) is down $1.07 (-0.6%) to $191.23 on average volume. Thus far, 1.5 million shares of International Business Machines exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $191.00-$192.97 after having opened the day at $192.68 as compared to the previous trading day's close of $192.30.

International Business Machines Corporation provides information technology (IT) products and services worldwide. International Business Machines has a market cap of $191.8 billion and is part of the computer software & services industry. Shares are up 2.5% year-to-date as of the close of trading on Friday. Currently there are 4 analysts that rate International Business Machines a buy, 1 analyst rates it a sell, and 11 rate it a hold.

TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, notable return on equity, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full International Business Machines 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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