NetApp Inc. (NTAP): Today's Featured Computer Hardware Loser
NetApp (NTAP) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware loser. The industry as a whole closed the day down 0.4%. By the end of trading, NetApp fell 21 cents (-0.7%) to $28.61 on average volume. Throughout the day, 9.2 million shares of NetApp exchanged hands as compared to its average daily volume of 6.5 million shares. The stock ranged in price between $28.41-$28.98 after having opened the day at $28.63 as compared to the previous trading day's close of $28.82. Other company's within the Computer Hardware industry that declined today were: Xata Corporation (XATA), down 10.9%, iGo (IGOI), down 9.7%, OCZ Technology Group (OCZ), down 6.4%, and Stratasys (SSYS), down 6%. NetApp, Inc. engages in the design, manufacturing, marketing, and technical support of networked storage solutions. It supplies enterprise storage and data management software, and hardware products and services. NetApp has a market cap of $12.09 billion and is part of the technology sector. The company has a P/E ratio of 13.6, below the average computer hardware industry P/E ratio of 21.1 and below the S&P 500 P/E ratio of 17.7. Shares are down 9.4% year to date as of the close of trading on Thursday. Currently there are 14 analysts that rate NetApp a buy, no analysts rate it a sell, and 13 rate it a hold. TheStreet Ratings rates NetApp as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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