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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

Finisar Corporation



) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day up 0.5%. By the end of trading, Finisar Corporation fell $0.28 (-2.1%) to $12.89 on light volume. Throughout the day, 1,874,161 shares of Finisar Corporation exchanged hands as compared to its average daily volume of 2,665,400 shares. The stock ranged in price between $12.84-$13.18 after having opened the day at $13.06 as compared to the previous trading day's close of $13.17. Other companies within the Computer Hardware industry that declined today were:

Logitech International S.A



), down 5.3%,

Mad Catz Interactive



), down 4.5%,

OCZ Technology Group



), down 4.5% and

Dot Hill Systems Corporation



), down 3.2%.

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Finisar Corporation engages in the design, development, manufacture, and sale of optical subsystems and components for use in fiber optics-based data communication and telecommunication networks applications. Finisar Corporation has a market cap of $1.2 billion and is part of the technology sector. The company has a P/E ratio of 144.2, above the S&P 500 P/E ratio of 17.7. Shares are down 20.3% year to date as of the close of trading on Thursday.

TheStreet Ratings rates Finisar Corporation as a


. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. 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,

Identive Group



), down 10.6%,

Xplore Technologies Corporation Class A



), down 10.0%,

Performance Technologies



), down 9.4% and




), down 9.0% , were all gainers within the computer hardware industry with

Western Digital Corporation



) 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



) while those bearish on the computer hardware industry could consider

ProShares Ultra Short Semiconductor




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