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

NetApp ( NTAP) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day down 0.3%. By the end of trading, NetApp rose $0.78 (1.9%) to $41.45 on average volume. Throughout the day, 4,617,884 shares of NetApp exchanged hands as compared to its average daily volume of 4,794,700 shares. The stock ranged in a price between $40.57-$41.46 after having opened the day at $40.57 as compared to the previous trading day's close of $40.67. Other companies within the Computer Hardware industry that increased today were: Mad Catz Interactive ( MCZ), up 9.3%, Finisar Corporation ( FNSR), up 5.9%, Fusion-io ( FIO), up 3.7% and Overland Storage ( OVRL), up 2.7%.

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 $13.9 billion and is part of the technology sector. The company has a P/E ratio of 25.5, above the S&P 500 P/E ratio of 17.7. Shares are up 21.4% year to date as of the close of trading on Wednesday. Currently there are 10 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 compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, 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 negative front, OCZ Technology Group ( OCZ), down 22.2%, Qumu ( QUMU), down 4.4%, Crossroads Systems ( CRDS), down 4.0% and Hewlett-Packard ( HPQ), down 3.1% , were all laggards within the computer hardware industry with Cisco Systems ( CSCO) being today's computer hardware industry laggard.

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).

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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