Rovi ( ROVI) pushed the Technology sector lower today making it today's featured Technology loser. The sector as a whole closed the day down 0.5%. By the end of trading, Rovi fell $2.31 (-4.8%) to $45.86 on average volume. Throughout the day, 1.9 million shares of Rovi exchanged hands as compared to its average daily volume of 1.3 million shares. The stock ranged in price between $45-$47.76 after having opened the day at $47.69 as compared to the previous trading day's close of $48.17. Other company's within the Technology sector that declined today were: Powerwave Technologies Inc ( PWAV), down 80%, Daystar Technologies Inc ( DSTI), down 25%, OmniVision Technologies Inc ( OVTI), down 17.6%, and Ceragon Networks ( CRNT), down 17.2%. Rovi Corporation provides digital entertainment technology solutions for the discovery and management of entertainment content. Rovi has a market cap of $5.3 billion and is part of the computer software & services industry. The company has a P/E ratio of 49.2, above the average computer software & services industry P/E ratio of 48.6 and above the S&P 500 P/E ratio of 17.7. Shares are down 21.4% year to date as of the close of trading on Friday. TheStreet Ratings rates Rovi as a hold. The company's strengths can be seen in multiple areas, such as its robust 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 unimpressive growth in net income, disappointing return on equity and weak operating cash flow.
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