Seagate Technology PLC (STX): 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.

Seagate Technology (STX) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day down 0.2%. By the end of trading, Seagate Technology fell 50 cents (-1.4%) to $34.44 on light volume. Throughout the day, 5.1 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 8.7 million shares. The stock ranged in price between $34.24-$35.02 after having opened the day at $34.78 as compared to the previous trading day's close of $34.95. Other companies within the Computer Hardware industry that declined today were: Dataram Corporation (DRAM), down 15.9%, Ruckus Wireless (RKUS), down 13.8%, Hauppauge Digital (HAUP), down 5.4%, and Stratasys (SSYS), down 3.6%.

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Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise storage, client compute, and client non-compute market applications worldwide. Seagate Technology has a market cap of $12.56 billion and is part of the technology sector. The company has a P/E ratio of 4.6, below the S&P 500 P/E ratio of 17.7. Shares are up 15.1% year to date as of the close of trading on Thursday. Currently there are three analysts that rate Seagate Technology a buy, three analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

• You can view the full Seagate Technology Ratings Report.

On the positive front, XRS (XRSC), up 8.9%, Cray (CRAY), up 7.1%, Datalink Corporation (DTLK), up 6.5%, and iGo (IGOI), up 4%, were all gainers within the computer hardware industry with NetApp (NTAP) being today's featured computer hardware industry leader.

• 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 Seagate Technology PLC click any of the following:

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