SanDisk Corp (SNDK): 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.

SanDisk ( SNDK) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.3%. By the end of trading, SanDisk fell 50 cents (-1.2%) to $42.67 on average volume. Throughout the day, 4.9 million shares of SanDisk exchanged hands as compared to its average daily volume of 4.9 million shares. The stock ranged in price between $42.20-$43.37 after having opened the day at $42.88 as compared to the previous trading day's close of $43.17. Other companies within the Technology sector that declined today were: Chyron Corporation ( CHYR), down 13.9%, Pactera Technology International ( PACT), down 13.4%, iGo ( IGOI), down 11.4%, and Demandware ( DWRE), down 10.3%.
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Sandisk Corporation designs, develops, and manufactures NAND flash memory storage solutions that are used in various consumer electronics products. SanDisk has a market cap of $10.46 billion and is part of the computer hardware industry. The company has a P/E ratio of 22, above the S&P 500 P/E ratio of 17.7. Shares are down 12.1% year to date as of the close of trading on Thursday. Currently there are 16 analysts that rate SanDisk a buy, one analyst rates it a sell, and five rate it a hold.

TheStreet Ratings rates SanDisk as a buy. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the positive front, BOS Better Online Solutions ( BOSC), up 40.5%, GigOptix ( GIG), up 26.1%, Performance Technologies ( PTIX), up 24.1%, and XRS ( XRSC), up 18.6%, were all gainers within the technology sector with VMWare ( VMW) 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).

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