International Game Technology (IGT): 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.

International Game Technology ( IGT) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.6%. By the end of trading, International Game Technology fell $0.22 (-1.2%) to $18.75 on light volume. Throughout the day, 2,233,906 shares of International Game Technology exchanged hands as compared to its average daily volume of 3,065,300 shares. The stock ranged in price between $18.68-$18.97 after having opened the day at $18.92 as compared to the previous trading day's close of $18.97. Other companies within the Technology sector that declined today were: 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%.

International Game Technology engages in the design, development, manufacture, and marketing of casino games, gaming equipment, and systems technology for land-based and online social gaming, and wagering markets worldwide. International Game Technology has a market cap of $5.2 billion and is part of the computer software & services industry. Shares are up 33.9% year to date as of the close of trading on Tuesday. Currently there are 6 analysts that rate International Game Technology a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates International Game Technology as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

On the positive front, 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% , were all gainers within the technology sector with SanDisk ( SNDK) 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.
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