SanDisk Corp (SNDK): 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

SanDisk ( SNDK) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day up 0.2%. By the end of trading, SanDisk rose $0.67 (1.2%) to $57.90 on average volume. Throughout the day, 3,417,728 shares of SanDisk exchanged hands as compared to its average daily volume of 4,180,500 shares. The stock ranged in a price between $56.59-$57.96 after having opened the day at $56.89 as compared to the previous trading day's close of $57.23. Other companies within the Computer Hardware industry that increased today were: Hutchinson Technology ( HTCH), up 17.6%, Universal Display Corporation ( PANL), up 7.3%, Acorn Energy ( ACFN), up 5.4% and SMART Technologies ( SMT), up 5.2%.
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Sandisk Corporation designs, develops, manufactures, and markets flash storage card products that are used in various consumer electronics products. SanDisk has a market cap of $13.8 billion and is part of the technology sector. The company has a P/E ratio of 29.5, above the S&P 500 P/E ratio of 17.7. Shares are up 30.2% year to date as of the close of trading on Friday. Currently there are 17 analysts that rate SanDisk a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates SanDisk as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the negative front, STEC ( STEC), down 5.1%, Identive Group ( INVE), down 4.2%, Ruckus Wireless ( RKUS), down 3.3% and Cray ( CRAY), down 3.1%.

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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