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

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 lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day down 0.9%. By the end of trading, NetApp fell 84 cents (-2.5%) to $33.24 on average volume. Throughout the day, 7.1 million shares of NetApp exchanged hands as compared to its average daily volume of 6.2 million shares. The stock ranged in price between $33.19-$34.23 after having opened the day at $33.94 as compared to the previous trading day's close of $34.08. Other companies within the Computer Hardware industry that declined today were: Dot Hill Systems Corporation (HILL), down 20.7%, Dataram Corporation (DRAM), down 11.1%, Echelon Corporation (ELON), down 7.8%, and Performance Technologies (PTIX), down 7%.

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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 $12.24 billion and is part of the technology sector. The company has a P/E ratio of 26.9, above the S&P 500 P/E ratio of 17.7. Shares are up 1.8% year to date as of the close of trading on Friday. Currently there are nine analysts that rate NetApp a buy, one analyst rates 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.

On the positive front, XRS (XRSC), up 14.8%, SMART Technologies (SMT), up 6.8%, Hauppauge Digital (HAUP), up 6.6%, and Hutchinson Technology (HTCH), up 4.2%, were all gainers within the computer hardware industry with Teradata Corporation (TDC) being today's featured computer hardware industry leader.

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).

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