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Finisar Corporation (FNSR): Today's Featured Computer Hardware Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Finisar Corporation ( FNSR) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day down 0.1%. By the end of trading, Finisar Corporation fell $0.26 (-1.1%) to $23.46 on light volume. Throughout the day, 1,529,649 shares of Finisar Corporation exchanged hands as compared to its average daily volume of 2,559,200 shares. The stock ranged in price between $23.43-$24.00 after having opened the day at $23.91 as compared to the previous trading day's close of $23.72. Other companies within the Computer Hardware industry that declined today were: Stratasys ( SSYS), down 6.2%, Acorn Energy ( ACFN), down 6.0%, Dataram Corporation ( DRAM), down 5.8% and voxeljet ( VJET), down 5.8%.

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, Malaysia, China, and internationally. Finisar Corporation has a market cap of $2.2 billion and is part of the technology sector. The company has a P/E ratio of 41.5, above the S&P 500 P/E ratio of 17.7. Shares are down 0.8% year to date as of the close of trading on Friday. Currently there are 9 analysts that rate Finisar Corporation a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Finisar Corporation as a buy. 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, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

On the positive front, Identive Group ( INVE), up 17.1%, Overland Storage ( OVRL), up 7.9%, Crossroads Systems ( CRDS), up 4.5% and Violin Memory ( VMEM), up 4.0% , were all gainers within the computer hardware industry with Aruba Networks ( ARUN) 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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