NetApp Inc. (NTAP): Today's Featured Computer Hardware 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.

NetApp ( NTAP) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day down 0.4%. By the end of trading, NetApp rose 47 cents (1.4%) to $34.68 on average volume. Throughout the day, 4.8 million shares of NetApp exchanged hands as compared to its average daily volume of 5.4 million shares. The stock ranged in a price between $34.02-$34.69 after having opened the day at $34.05 as compared to the previous trading day's close of $34.21. Other companies within the Computer Hardware industry that increased today were: Ruckus Wireless ( RKUS), up 5.7%, Overland Storage ( OVRL), up 4.3%, SMART Technologies ( SMT), up 3.5%, and iGo ( IGOI), up 2.9%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

NetApp, Inc. engages in design, manufacture, marketing, and technical support of networked storage solutions. The company supply enterprise storage and data management software, and hardware products and services. NetApp has a market cap of $12.35 billion and is part of the technology sector. The company has a P/E ratio of 24.8, above the S&P 500 P/E ratio of 17.7. Shares are up 2.2% year to date as of the close of trading on Friday. Currently there are 12 analysts that rate NetApp a buy, one analyst rates it a sell, and 16 rate it a hold.

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

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).

It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.
null

If you liked this article you might like

HPE's Meg Whitman Will Have to Answer Some Tough Questions on Tuesday

This Is Why Tech Stocks Are Heading Into the Weekend With a Nasty Hangover

These 4 Stocks Are Being Pummeled While the Market Is Tanking

Here the One Business That Could Fit 'Perfectly' Inside Meg Whitman's Overhauled Hewlett Packard