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 31.44 points (-0.2%) at 16,974 as of Wednesday, Oct. 29, 2014, 4:20 PM ET. The NYSE advances/declines ratio sits at 1,337 issues advancing vs. 1,766 declining with 127 unchanged.

The Electronics industry as a whole closed the day down 0.2% versus the S&P 500, which was down 0.1%. Top gainers within the Electronics industry included SMTC ( SMTX), up 2.8%, SemiLEDs ( LEDS), up 3.0%, LightPath Technologies ( LPTH), up 2.9%, Orbit International ( ORBT), up 2.5% and Digital Power ( DPW), up 7.7%.

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

LightPath Technologies ( LPTH) is one of the companies that pushed the Electronics industry higher today. LightPath Technologies was up $0.04 (2.9%) to $1.40 on light volume. Throughout the day, 2,500 shares of LightPath Technologies exchanged hands as compared to its average daily volume of 41,000 shares. The stock ranged in a price between $1.38-$1.40 after having opened the day at $1.38 as compared to the previous trading day's close of $1.36.

LightPath Technologies, Inc. designs, develops, manufactures, and distributes optical components and assemblies. LightPath Technologies has a market cap of $20.3 million and is part of the technology sector. Shares are up 0.0% year-to-date as of the close of trading on Tuesday. Currently there is 1 analyst who rates LightPath Technologies a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates LightPath Technologies as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself.

Highlights from TheStreet Ratings analysis on LPTH go as follows:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Electronic Equipment, Instruments & Components industry. The net income increased by 142.2% when compared to the same quarter one year prior, rising from -$0.24 million to $0.10 million.
  • LPTH's debt-to-equity ratio is very low at 0.02 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, LPTH has a quick ratio of 1.56, which demonstrates the ability of the company to cover short-term liquidity needs.
  • LIGHTPATH TECHNOLOGIES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, LIGHTPATH TECHNOLOGIES INC swung to a loss, reporting -$0.02 versus $0.02 in the prior year. This year, the market expects an improvement in earnings ($0.00 versus -$0.02).
  • Net operating cash flow has significantly decreased to $0.04 million or 93.72% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Electronic Equipment, Instruments & Components industry and the overall market, LIGHTPATH TECHNOLOGIES INC's return on equity significantly trails that of both the industry average and the S&P 500.

You can view the full analysis from the report here: LightPath Technologies Ratings Report

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At the close, SemiLEDs ( LEDS) was up $0.01 (3.0%) to $0.46 on light volume. Throughout the day, 38,949 shares of SemiLEDs exchanged hands as compared to its average daily volume of 122,500 shares. The stock ranged in a price between $0.45-$0.51 after having opened the day at $0.45 as compared to the previous trading day's close of $0.45.

SemiLEDs Corporation develops, manufactures, and sells light emitting diode (LED) chips and LED components. SemiLEDs has a market cap of $13.5 million and is part of the technology sector. Shares are down 52.0% year-to-date as of the close of trading on Tuesday. Currently there are no analysts who rate SemiLEDs a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates SemiLEDs as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on LEDS go as follows:

  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, SEMILEDS CORP's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has significantly decreased to -$4.14 million or 78.66% when compared to the same quarter last year. Despite a decrease in cash flow of 78.66%, SEMILEDS CORP is in line with the industry average cash flow growth rate of -81.10%.
  • LEDS's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 63.85%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • SEMILEDS CORP has improved earnings per share by 42.5% 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 year. During the past fiscal year, SEMILEDS CORP continued to lose money by earning -$1.58 versus -$1.80 in the prior year.
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Semiconductors & Semiconductor Equipment industry average. The net income increased by 41.5% when compared to the same quarter one year prior, rising from -$10.95 million to -$6.41 million.

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

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

SMTC ( SMTX) was another company that pushed the Electronics industry higher today. SMTC was up $0.05 (2.8%) to $1.75 on light volume. Throughout the day, 10,975 shares of SMTC exchanged hands as compared to its average daily volume of 25,100 shares. The stock ranged in a price between $1.70-$1.75 after having opened the day at $1.70 as compared to the previous trading day's close of $1.70.

SMTC Corporation provides advanced electronics manufacturing services worldwide. SMTC has a market cap of $27.1 million and is part of the technology sector. Shares are down 27.6% year-to-date as of the close of trading on Tuesday. Currently there are no analysts who rate SMTC a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates SMTC as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself, generally high debt management risk and poor profit margins.

Highlights from TheStreet Ratings analysis on SMTX go as follows:

  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Electronic Equipment, Instruments & Components industry and the overall market, SMTC CORP's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has significantly decreased to -$1.07 million or 111.27% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • SMTX has underperformed the S&P 500 Index, declining 13.07% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • SMTX's debt-to-equity ratio of 0.81 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further. Despite the fact that SMTX's debt-to-equity ratio is mixed in its results, the company's quick ratio of 0.53 is low and demonstrates weak liquidity.
  • The gross profit margin for SMTC CORP is currently extremely low, coming in at 11.65%. Regardless of SMTX's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 0.05% trails the industry average.

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

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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.