3 Stocks Pushing 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 32 points (-0.2%) at 17,036 as of Thursday, Sept. 11, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,537 issues advancing vs. 1,470 declining with 140 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include 21Vianet Group ( VNET), down 18.6%, VimpelCom ( VIP), down 1.9%, Mobile Telesystems OJSC ( MBT), down 1.9%, Telefonica ( TEF), down 1.6% and Wipro ( WIT), down 1.1%. Top gainers within the sector include China Unicom (Hong Kong ( CHU), up 1.3%, TE Connectivity ( TEL), up 1.3%, Salesforce.com ( CRM), up 1.0%, China Telecom ( CHA), up 0.8% and Facebook ( FB), up 0.5%.

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

3. Seagate Technology ( STX) is one of the companies pushing the Technology sector lower today. As of noon trading, Seagate Technology is down $0.90 (-1.5%) to $60.36 on average volume. Thus far, 1.2 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $60.11-$61.30 after having opened the day at $61.07 as compared to the previous trading day's close of $61.26.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products in the Asia Pacific, the Americas, and EMEA countries. Seagate Technology has a market cap of $19.8 billion and is part of the computer hardware industry. Shares are up 9.1% year-to-date as of the close of trading on Wednesday. Currently there are 10 analysts that rate Seagate Technology a buy, 1 analyst rates it a sell, and 8 rate it a hold.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity, good cash flow from operations 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 Seagate Technology Ratings Report now.

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