Seagate Technology PLC (STX): 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.

Seagate Technology ( STX) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.7%. By the end of trading, Seagate Technology fell $0.52 (-1.0%) to $49.37 on average volume. Throughout the day, 2,912,554 shares of Seagate Technology exchanged hands as compared to its average daily volume of 3,558,200 shares. The stock ranged in price between $49.29-$50.00 after having opened the day at $49.81 as compared to the previous trading day's close of $49.89. Other companies within the Technology sector that declined today were: Rackspace Hosting ( RAX), down 19.1%, Linktone ( LTON), down 15.7%, Sevcon ( SEV), down 11.8% and OmniVision Technologies ( OVTI), down 8.1%.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. Seagate Technology has a market cap of $16.3 billion and is part of the computer hardware industry. Shares are down 11.8% 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, China Digital TV ( STV), up 31.9%, Innovative Solutions and Support ( ISSC), up 21.9%, UBIC Inc ADR ( UBIC), up 19.2% and China BAK Battery ( CBAK), up 15.4% , were all gainers within the technology sector with Hewlett-Packard ( HPQ) 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.

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