ABB Ltd. (ABB): 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.

ABB ( ABB) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.4%. By the end of trading, ABB fell $0.34 (-1.4%) to $24.92 on light volume. Throughout the day, 944,881 shares of ABB exchanged hands as compared to its average daily volume of 1,335,300 shares. The stock ranged in price between $24.85-$25.08 after having opened the day at $25.05 as compared to the previous trading day's close of $25.26. Other companies within the Technology sector that declined today were: OCZ Technology Group ( OCZ), down 37.3%, Camtek ( CAMT), down 20.4%, Velti ( VELT), down 15.8% and Eltek ( ELTK), down 11.6%.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. ABB has a market cap of $58.7 billion and is part of the industrial industry. The company has a P/E ratio of 21.6, above the S&P 500 P/E ratio of 17.7. Shares are up 22.9% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate ABB a buy, 1 analyst rates it a sell, and none rate it a hold.

TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins.

On the positive front, ARC Group Worldwide ( ARCW), up 27.5%, Intelligent Systems ( INS), up 17.0%, Luna Innovations ( LUNA), up 15.4% and Zoom Technologies ( ZOOM), up 11.0% , were all gainers within the technology sector with Cree ( CREE) 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.
null

If you liked this article you might like

GE Nearing Deal to Sell Industrial Solutions Unit to Swiss-Based ABB

These Stocks Are Ready to Reverse Course

Stocks Lower as GE Depresses Dow, Microsoft Dips

Petrofac Falls 30% After Suspending COO Amid Fraud Investigation

General Dynamics, Raytheon, Northrop Grumman: 'Mad Money' Lightning Round