SanDisk Corp (SNDK): Today's Featured Technology Winner

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.

SanDisk ( SNDK) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 0.6%. By the end of trading, SanDisk rose $0.99 (1.8%) to $55.02 on light volume. Throughout the day, 2,789,408 shares of SanDisk exchanged hands as compared to its average daily volume of 4,708,100 shares. The stock ranged in a price between $53.91-$55.34 after having opened the day at $54.10 as compared to the previous trading day's close of $54.03. Other companies within the Technology sector that increased today were: Alvarion ( ALVR), up 65.7%, Analysts International ( ANLY), up 59.1%, On Track Innovations ( OTIV), up 25.5% and Sify Technologies ( SIFY), up 21.3%.

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 $13.6 billion and is part of the computer hardware industry. Shares are up 30.2% year to date as of the close of trading on Tuesday. Currently there are 15 analysts that rate SanDisk a buy, 1 analyst rates it a sell, and 4 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. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

On the negative front, AutoNavi Holdings ( AMAP), down 14.4%, LTX-Credence Corporation ( LTXC), down 12.3%, Concurrent Computer Corporation ( CCUR), down 10.8% and PT Indosat TBK ( IIT), down 9.7% , were all laggards within the technology sector with International Game Technology ( IGT) being today's technology sector laggard.

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).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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