NetApp Inc. (NTAP): Today's Featured Computer Hardware Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NetApp (NTAP) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day up 1.1%. By the end of trading, NetApp rose 52 cents (1.7%) to $31.88 on average volume. Throughout the day, 8.4 million shares of NetApp exchanged hands as compared to its average daily volume of 6.7 million shares. The stock ranged in a price between $31.32-$32.26 after having opened the day at $31.37 as compared to the previous trading day's close of $31.36. Other companies within the Computer Hardware industry that increased today were: OCZ Technology Group (OCZ), up 24.4%, Dataram Corporation (DRAM), up 13.8%, Aruba Networks (ARUN), up 7.3%, and Radcom (RDCM), up 5%.

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NetApp, Inc. engages in design, manufacture, marketing, and technical support of networked storage solutions. The company supply enterprise storage and data management software, and hardware products and services. NetApp has a market cap of $11.38 billion and is part of the technology sector. The company has a P/E ratio of 22.2, above the S&P 500 P/E ratio of 17.7. Shares are down 13.7% year to date as of the close of trading on Wednesday. Currently there are nine analysts that rate NetApp a buy, no analysts rate it a sell, and 18 rate it a hold.

TheStreet Ratings rates NetApp as a hold. 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 and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

• You can view the full NetApp Ratings Report.

On the negative front, Performance Technologies (PTIX), down 8.9%, iGo (IGOI), down 7.3%, Immersion Corporation (IMMR), down 5.1%, and Overland Storage (OVRL), down 5.1%, were all laggards within the computer hardware industry with SanDisk (SNDK) being today's computer hardware industry laggard.

• Use our computer hardware section to find industry-relevant news.
• Or find some new ideas from our top rated stocks lists.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer hardware industry could consider iShares Dow Jones US Technology (IYW) while those bearish on the computer hardware industry could consider ProShares Ultra Short Semiconductor (SSG).

• Find other investment ideas from our top rated ETFs lists.

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For more information on NetApp Inc. click any of the following:

• NetApp Inc. Stock Price

• NetApp Inc. Analyst Ratings

• NetApp Inc. Key Stats & Profile

• NetApp Inc. Earnings

• NetApp Inc. Ratio Comparison

• NetApp Inc. Growth Rates

• NetApp Inc. Balance Sheet

• NetApp Inc. Cash Flow

• NetApp Inc. Income Statement