3 Technology Stocks Nudging The Sector Higher

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 59 points (0.3%) at 18,083 as of Monday, May 4, 2015, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,918 issues advancing vs. 1,077 declining with 158 unchanged.

The Technology sector currently sits up 0.6% versus the S&P 500, which is up 0.4%. Top gainers within the sector include Cognizant Technology Solutions ( CTSH), up 8.0%, ON Semiconductor ( ON), up 6.5%, Autohome ( ATHM), up 5.7%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), up 3.4% and Vipshop Holdings ( VIPS), up 2.8%. On the negative front, top decliners within the sector include Altera ( ALTR), down 1.8%, LinkedIn ( LNKD), down 1.6%, Taiwan Semiconductor Manufacturing ( TSM), down 1.5%, Micron Technology ( MU), down 1.3% and Avago Technologies ( AVGO), down 1.3%.

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

3. Qualcomm ( QCOM) is one of the companies pushing the Technology sector higher today. As of noon trading, Qualcomm is up $0.67 (1.0%) to $69.09 on light volume. Thus far, 3.0 million shares of Qualcomm exchanged hands as compared to its average daily volume of 12.7 million shares. The stock has ranged in price between $68.22-$69.12 after having opened the day at $68.45 as compared to the previous trading day's close of $68.42.

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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. Qualcomm has a market cap of $110.8 billion and is part of the telecommunications industry. Shares are down 8.0% year-to-date as of the close of trading on Friday. Currently there are 15 analysts who rate Qualcomm a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Qualcomm Ratings Report now.

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