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

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 Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 1.1%. By the end of trading, Seagate Technology rose 51 cents (1.5%) to $34.62 on light volume. Throughout the day, 6.7 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 13.2 million shares. The stock ranged in a price between $33.95-$34.70 after having opened the day at $34.21 as compared to the previous trading day's close of $34.11. Other companies within the Technology sector that increased today were: Deltathree ( DDDC), up 40%, LiveDeal ( LIVE), up 14.5%, GT Advanced Technologies ( GTAT), up 13.9%, and Evolving Systems ( EVOL), up 12.2%.

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 $13.88 billion and is part of the computer hardware industry. The company has a P/E ratio of 5.2, above the average computer hardware industry P/E ratio of five and below the S&P 500 P/E ratio of 17.7. Shares are up 108.5% year to date as of the close of trading on Wednesday. Currently there are eight 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, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

On the negative front, Otelco ( OTT), down 17.6%, NetEase ( NTES), down 14.8%, Dataram Corporation ( DRAM), down 9.4%, and Astea International ( ATEA), down 8.4%, were all laggards within the technology sector with MetroPCS Communications ( PCS) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).
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