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 0.2%. By the end of trading, Seagate Technology fell 47 cents (-1.7%) to $26.62 on average volume. Throughout the day, 11.1 million shares of Seagate Technology exchanged hands as compared to its average daily volume of 9.4 million shares. The stock ranged in price between $26.24-$27.08 after having opened the day at $27 as compared to the previous trading day's close of $27.09. Other companies within the Computer Hardware industry that declined today were: Hewlett-Packard ( HPQ), down 11.9%, Radisys Corporation ( RSYS), down 7.1%, Xplore Technologies Corporation Class A ( XLRT), down 4.1%, and Xplore Technologies Corporation Class A ( XPLR), down 4.1%.
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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 $10.23 billion and is part of the technology sector. The company has a P/E ratio of 3.6, below the S&P 500 P/E ratio of 17.7. Shares are up 65.3% year to date as of the close of trading on Monday. Currently there are four analysts that rate Seagate Technology a buy, one analyst rates it a sell, and 14 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 good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins.

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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