Seagate Technology PLC (STX): Today's Featured Computer Hardware Winner

Seagate Technology ( STX) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day down 0.7%. By the end of trading, Seagate Technology rose 23 cents (0.9%) to $26.04 on light volume. Throughout the day, 6.7 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 14.3 million shares. The stock ranged in a price between $25.34-$26.30 after having opened the day at $25.82 as compared to the previous trading day's close of $25.81. Other companies within the Computer Hardware industry that increased today were: iGo ( IGOI), up 8.3%, Stratasys ( SSYS), up 8%, OCZ Technology Group ( OCZ), up 4.7%, and Mad Catz Interactive ( MCZ), up 4.6%.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise, client compute, and client non-compute market applications worldwide. Seagate Technology has a market cap of $10.73 billion and is part of the technology sector. The company has a P/E ratio of 5.7, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 53.8% year to date as of the close of trading on Friday. Currently there are seven analysts that rate Seagate Technology a buy, two analysts rate it a sell, and 10 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 robust revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

On the negative front, Crossroads Systems Incorporated ( CRDS), down 9.4%, Identive Group ( INVE), down 8%, Quantum Corporation ( QTM), down 7.4%, and Xata Corporation ( XATA), down 5.9%, were all losers within the computer hardware industry with Cisco Systems ( CSCO) being today's computer hardware industry loser.

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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Seagate May Continue Higher

Seagate May Continue Higher