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

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NetApp ( NTAP) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day down 0.8%. By the end of trading, NetApp fell $0.74 (-1.7%) to $42.10 on average volume. Throughout the day, 6,258,145 shares of NetApp exchanged hands as compared to its average daily volume of 5,161,400 shares. The stock ranged in price between $42.00-$42.86 after having opened the day at $42.71 as compared to the previous trading day's close of $42.84. Other companies within the Computer Hardware industry that declined today were: Acorn Energy ( ACFN), down 6.8%, Silicon Graphics International ( SGI), down 5.4%, Echelon Corporation ( ELON), down 5.2% and Radisys Corporation ( RSYS), down 4.3%.

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 $14.6 billion and is part of the technology sector. Shares are up 27.8% year to date as of the close of trading on Wednesday. Currently there are 13 analysts that rate NetApp a buy, 2 analysts rate it a sell, and 14 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, 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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the positive front, Xyratex ( XRTX), up 7.5%, Crossroads Systems ( CRDS), up 6.4%, Video Display Corporation ( VIDE), up 5.7% and OCZ Technology Group ( OCZ), up 2.1% , were all gainers within the computer hardware industry with Brocade Communications Systems ( BRCD) 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).

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