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

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 Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day down 0.7%. By the end of trading, Seagate Technology fell 73 cents (-2.4%) to $29.75 on light volume. Throughout the day, 7.2 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 11.9 million shares. The stock ranged in price between $29.57-$30.33 after having opened the day at $30.25 as compared to the previous trading day's close of $30.48. Other companies within the Computer Hardware industry that declined today were: Hutchinson Technology ( HTCH), down 6.4%, Radcom ( RDCM), down 5%, Performance Technologies ( PTIX), down 4.8%, and Western Digital Corporation ( WDC), down 3.9%.
  • ACTIVE STOCK TRADERS: Get full access to Jim Cramer's thoughts for less than $3/week - sometimes before he says them on TV! Start with a 14-Day Free Trial.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise storage, client compute, and client non-compute market applications worldwide. Seagate Technology has a market cap of $11.89 billion and is part of the technology sector. The company has a P/E ratio of 4.7, 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 85.9% year to date as of the close of trading on Friday. Currently there are five analysts that rate Seagate Technology a buy, two analysts rate it a sell, and 13 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 positive front, iGo ( IGOI), up 3.6%, Interphase ( INPH), up 2.6%, and MTS Medication Technologies ( MTSI), up 2.5%, were all gainers within the computer hardware industry with Teradata Corporation ( TDC) 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).

FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.
null

If you liked this article you might like

Why Apple Is Increasingly Investing in Its Suppliers, Including Possibly Toshiba

Western Digital Stock to $100 on Toshiba Deal -- Jim Cramer Explains Why

Western Digital and Toshiba Both Have Good Reasons to Bury the Hatchet Quickly

Why You Keep Cash on Hand; No Downside Conviction -- Jim Cramer's Top Thoughts

How Much Cash Do You Have on You?: Cramer's 'Mad Money' Recap (Monday 8/14/17)