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 up 1.1%. By the end of trading, Seagate Technology fell $1.10 (-2.1%) to $49.99 on average volume. Throughout the day, 4,782,847 shares of Seagate Technology exchanged hands as compared to its average daily volume of 3,483,200 shares. The stock ranged in price between $49.30-$51.50 after having opened the day at $51.18 as compared to the previous trading day's close of $51.09. Other companies within the Computer Hardware industry that declined today were: Mad Catz Interactive ( MCZ), down 5.4%, Hutchinson Technology ( HTCH), down 4.1%, Finisar Corporation ( FNSR), down 3.4% and M/A-COM Technology Solutions Holdings ( MTSI), down 3.0%.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. Seagate Technology has a market cap of $17.4 billion and is part of the technology sector. The company has a P/E ratio of 11.8, below the S&P 500 P/E ratio of 17.7. Shares are down 5.9% year to date as of the close of trading on Monday. Currently there are 6 analysts that rate Seagate Technology a buy, 1 analyst rates it a sell, and 11 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, good cash flow from operations 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, Radisys Corporation ( RSYS), up 11.9%, Interphase ( INPH), up 11.3%, Crossroads Systems ( CRDS), up 6.2% and Gigamon ( GIMO), up 4.9% , were all gainers within the computer hardware industry with Apple ( AAPL) 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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

More from Markets

Alphabet, Caterpillar, Coca-Cola and Amazon - 5 Things You Must Know

Alphabet, Caterpillar, Coca-Cola and Amazon - 5 Things You Must Know

Alphabet's Earnings Beat and 4 Other Business Stories You Must Know Tuesday

Alphabet's Earnings Beat and 4 Other Business Stories You Must Know Tuesday

Alphabet Shares Gain as Investors Shrug Off Q1 Google Spending Spree

Alphabet Shares Gain as Investors Shrug Off Q1 Google Spending Spree

SAP Shares Leap After Cloud Business Prompts Full-Year Profit Guidance Hike

SAP Shares Leap After Cloud Business Prompts Full-Year Profit Guidance Hike

Apple Suppliers Slide After European, Asian Chipmakers Echo Smartphone Concerns

Apple Suppliers Slide After European, Asian Chipmakers Echo Smartphone Concerns