EMC Corporation (EMC): Today's Featured Technology 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.

EMC Corporation ( EMC) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole was unchanged today. By the end of trading, EMC Corporation fell 32 cents (-1.3%) to $24.14 on heavy volume. Throughout the day, 26.5 million shares of EMC Corporation exchanged hands as compared to its average daily volume of 15.8 million shares. The stock ranged in price between $23.98-$24.86 after having opened the day at $24.83 as compared to the previous trading day's close of $24.46. Other companies within the Technology sector that declined today were: Logitech International S.A ( LOGI), down 18.5%, Sequans Communications SA ADR ( SQNS), down 15.6%, Quantum Corporation ( QTM), down 15.3%, and BOS Better Online Solutions ( BOSC), down 14.3%.
  • 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.

EMC Corporation develops, delivers, and supports the information and virtual infrastructure technologies and solutions. EMC Corporation has a market cap of $51.8 billion and is part of the computer hardware industry. The company has a P/E ratio of 20.4, equal to the average computer hardware industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 13.6% year to date as of the close of trading on Wednesday. Currently there are 28 analysts that rate EMC Corporation a buy, no analysts rate it a sell, and two rate it a hold.

TheStreet Ratings rates EMC Corporation as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the positive front, GSI Technology ( GSIT), up 27.6%, A123 Systems ( AONE), up 23.1%, LogMeIn ( LOGM), up 18.7%, and support.com ( SPRT), up 18.1%, were all gainers within the technology sector with Texas Instruments ( TXN) being today's featured technology sector leader.

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).

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