5 Technology Stocks Being Dumped This Afternoon as Nasdaq Turns Positive

Through early afternoon trading on Wednesday, August 24, 2011, these stocks are bringing down the Technology (NYSE:XLK) sector. Long time Wall St. Cheat Sheet readers know to watch stock prices because Technicals on the Stock Chart are Strong’ is one of the ‘T’s in our CHEAT SHEET investing framework.

Applied Materials, Inc. (NASDAQ:AMAT) is among the price losers in the sector today. Its shares are trading at $11.25, which is 20 cents (-1.7%) below the previous close of $11.44. Applied Materials Inc. is a manufacturer and producer of capital equipments. It provides manufacturing equipment, software and solutions for the global semiconductor, flat panel liquid crystal displays, solar and related industries. .

Stock Price Performance: During May 27, 2011 to August 23, 2011, the stock price had fallen $1.99 (-14.8%) from $13.43 to $11.44. It saw one of its worst periods between July 7, 2011 and July 14, 2011 when shares fell for six-straight days, falling 8.7% (-$1.17) over that span. The stock price saw one of its best stretches over the last year between October 26, 2010 and November 5, 2010 when shares rose for nine-straight days, rising 7.4% (+88 cents) over that span.

Altera Corporation (NASDAQ:ALTR) stocks are trading at $35.55. This is 88 cents (-2.4%) below the previous close of $36.43, making the company one of the biggest price losers in the sector today. Altera Corp. designs and manufactures programmable logic devices, HardCopy ASIC devices, pre-defined design building blocks, cores and associated development tools.

Stock Price Performance: During May 27, 2011 to August 23, 2011, the stock price had fallen $10.52 (-22.4%) from $46.95 to $36.43. The stock price saw one of its best stretches over the last year between November 16, 2010 and November 24, 2010 when shares rose for seven-straight days, rising 11.9% (+$3.80) over that span. It saw one of its worst periods between July 7, 2011 and July 14, 2011 when shares fell for six-straight days, falling 11.5% (-$5.52) over that span.

Analog Devices Inc. (NYSE:ADI) is one of the sector losers in price today. Its shares are trading at $32.03, down 49 cents (-1.5%) from a previous close of $32.51. Analog Devices, Inc. designs, manufactures and markets analog, mixed-signal and digital signal processing integrated circuits used in industrial, communication, computer and consumer applications.

Stock Price Performance: During May 26, 2011 to August 22, 2011, the stock price had fallen $9.18 (-22.7%) from $40.38 to $31.20. The stock price saw one of its best stretches over the last year between October 26, 2010 and November 4, 2010 when shares rose for eight-straight days, rising 11.4% (+$3.57) over that span. It saw one of its worst periods between July 7, 2011 and July 18, 2011 when shares fell for eight-straight days, falling 11.8% (-$4.73) over that span.

InterDigital, Inc. (NASDAQ:IDCC) is among the price losers in the sector today. Its shares are trading at $67.12, which is $1.07 (-1.6%) below the previous close of $68.18. InterDigital, Inc. designs and develops advanced digital wireless technology solutions.

Stock Price Performance: During June 27, 2011 to August 23, 2011, the stock price had risen $28.86 (73.4%) from $39.32 to $68.18. The stock price saw one of its best stretches over the last year between October 19, 2010 and October 29, 2010 when shares rose for nine-straight days, rising 14.4% (+$4.20) over that span. It saw one of its worst periods between May 31, 2011 and June 8, 2011 when shares fell for seven-straight days, falling 18.2% (-$7.80) over that span.

Cypress Semiconductor Corporation (NASDAQ:CY) stocks are trading at $16.62. This is 63 cents (-3.7%) below the previous close of $17.25, making the company one of the biggest price losers in the sector today. Cypress Semiconductor Corporation designs, develops, manufactures and markets high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and system value.

Stock Price Performance: During May 27, 2011 to August 23, 2011, the stock price had fallen $6.01 (-25.8%) from $23.26 to $17.25. The stock price saw one of its best stretches over the last year between January 3, 2011 and January 14, 2011 when shares rose for 10-straight days, rising 17.6% (+$3.18) over that span. It saw one of its worst periods between March 3, 2011 and March 10, 2011 when shares fell for six-straight days, falling 11.5% (-$2.44) over that span.