NetApp Inc. (NTAP): Today's Featured Technology Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

NetApp ( NTAP) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.4%. By the end of trading, NetApp fell $0.49 (-1.2%) to $40.86 on light volume. Throughout the day, 3,965,247 shares of NetApp exchanged hands as compared to its average daily volume of 7,890,900 shares. The stock ranged in price between $40.70-$41.30 after having opened the day at $41.30 as compared to the previous trading day's close of $41.35. Other companies within the Technology sector that declined today were: Dataram Corporation ( DRAM), down 33.8%, Shanda Games ( GAME), down 20.2%, Changyou.com ( CYOU), down 19.9% and Alvarion ( ALVR), down 14.8%.

NetApp, Inc. engages in design, manufacture, and marketing of networked storage solutions. The company supplies enterprise storage and data management software and hardware products and services. NetApp has a market cap of $15.0 billion and is part of the computer hardware industry. Shares are up 23.8% year to date as of the close of trading on Friday. Currently there are 12 analysts that rate NetApp a buy, 2 analysts rate it a sell, and 13 rate it a hold.

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

On the positive front, SatCon Technology Corporation ( SATC), up 60.0%, Friendfinder Networks ( FFN), up 32.7%, Interphase ( INPH), up 23.7% and Orion Energy Systems ( OESX), up 14.2% , were all gainers within the technology sector with Activision Blizzard ( ATVI) 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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

null

More from Markets

OPEC Deal Doesn't Boost Production Enough to Drive Down Crude, Gasoline Prices

OPEC Deal Doesn't Boost Production Enough to Drive Down Crude, Gasoline Prices

Dow Rises for First Time in 9 Days, Oil Soars as OPEC Agrees to Boost Output

Dow Rises for First Time in 9 Days, Oil Soars as OPEC Agrees to Boost Output

Jim Cramer: Some Industrials Stocks Are Becoming Great Values

Jim Cramer: Some Industrials Stocks Are Becoming Great Values

Jim Cramer Reacts to Toni Sacconaghi's Latest Tesla Note

Jim Cramer Reacts to Toni Sacconaghi's Latest Tesla Note

Howard Schultz to Jim Cramer: Starbucks Stock Is Cheap and Undervalued

Howard Schultz to Jim Cramer: Starbucks Stock Is Cheap and Undervalued