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 down 0.4%. By the end of trading, Seagate Technology fell $0.46 (-1.1%) to $40.94 on average volume. Throughout the day, 2,829,961 shares of Seagate Technology exchanged hands as compared to its average daily volume of 3,523,100 shares. The stock ranged in price between $40.53-$41.46 after having opened the day at $41.26 as compared to the previous trading day's close of $41.40. Other companies within the Computer Hardware industry that declined today were: iGo ( IGOI), down 8.1%, Performance Technologies ( PTIX), down 5.9%, Hauppauge Digital ( HAUP), down 4.5% and Ruckus Wireless ( RKUS), down 4.2%.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. Seagate Technology has a market cap of $14.8 billion and is part of the technology sector. Shares are up 36.0% year to date as of the close of trading on Friday. Currently there are 4 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, Mad Catz Interactive ( MCZ), up 11.2%, Xyratex ( XRTX), up 8.8%, Apple ( AAPL), up 5.0% and Video Display Corporation ( VIDE), up 4.5%.

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.
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