Seagate Technology PLC (STX): Today's Featured Computer Hardware 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.

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 up 0.2%. By the end of trading, Seagate Technology fell $0.69 (-1.6%) to $41.10 on average volume. Throughout the day, 3,622,458 shares of Seagate Technology exchanged hands as compared to its average daily volume of 4,482,300 shares. The stock ranged in price between $40.76-$41.66 after having opened the day at $41.66 as compared to the previous trading day's close of $41.79. Other companies within the Computer Hardware industry that declined today were: Acorn Energy ( ACFN), down 4.9%, Dot Hill Systems Corporation ( HILL), down 4.7%, Immersion Corporation ( IMMR), down 4.6% and Crossroads Systems ( CRDS), down 3.8%.

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 $14.7 billion and is part of the technology sector. Shares are up 34.5% year to date as of the close of trading on Thursday. Currently there are 5 analysts that rate Seagate Technology a buy, 3 analysts rate 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 solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, Silver Spring Networks ( SSNI), up 16.5%, China TechFaith Wireless Comm Tech ( CNTF), up 14.6%, Omnicell ( OMCL), up 6.3% and Dell ( DELL), up 5.6% , were all gainers within the computer hardware industry with Apple ( AAPL) being today's featured computer hardware industry leader.

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).

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

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Zoom CEO Eric Yuan Leads Glassdoor's List of Top 100 CEOs

Zoom CEO Eric Yuan Leads Glassdoor's List of Top 100 CEOs

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists