3 Technology Stocks Moving The Sector Upward

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All three major indices traded up today with the Dow Jones Industrial Average ( ^DJI) trading up 101 points (0.6%) at 17,132 as of Tuesday, Sept. 16, 2014, 4:20 PM ET. The NYSE advances/declines ratio sits at 1,961 issues advancing vs. 1,099 declining with 138 unchanged.

The Technology sector as a whole closed the day up 0.2% versus the S&P 500, which was up 0.7%. Top gainers within the Technology sector included Sajan ( SAJA), up 7.0%, Qualstar ( QBAK), up 1.7%, One Horizon Group ( OHGI), up 2.9%, Bel Fuse ( BELFA), up 2.6% and Forward Industries ( FORD), up 2.3%.

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

Bel Fuse ( BELFA) is one of the companies that pushed the Technology sector higher today. Bel Fuse was up $0.62 (2.6%) to $24.66 on light volume. Throughout the day, 200 shares of Bel Fuse exchanged hands as compared to its average daily volume of 1,200 shares. The stock ranged in a price between $24.66-$24.66 after having opened the day at $24.66 as compared to the previous trading day's close of $24.04.

Bel Fuse Inc. designs, manufactures, and sells products used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation, and consumer electronic industries worldwide. Bel Fuse has a market cap of $53.1 million and is part of the computer software & services industry. Shares are up 25.5% year-to-date as of the close of trading on Monday. Currently there are no analysts who rate Bel Fuse a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates Bel Fuse as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins.

Highlights from TheStreet Ratings analysis on BELFA go as follows:

  • BELFA's revenue growth has slightly outpaced the industry average of 3.3%. Since the same quarter one year prior, revenues slightly increased by 5.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 80.00% and other important driving factors, this stock has surged by 35.32% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • BEL FUSE INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, BEL FUSE INC increased its bottom line by earning $1.39 versus $0.19 in the prior year. This year, the market expects an improvement in earnings ($1.65 versus $1.39).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Communications Equipment industry. The net income increased by 81.5% when compared to the same quarter one year prior, rising from $1.69 million to $3.07 million.

You can view the full analysis from the report here: Bel Fuse Ratings Report

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