NetApp Inc. (NTAP): 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.

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 up 0.4%. By the end of trading, NetApp fell $1.10 (-2.5%) to $42.59 on heavy volume. Throughout the day, 8,944,408 shares of NetApp exchanged hands as compared to its average daily volume of 3,623,300 shares. The stock ranged in price between $42.46-$44.28 after having opened the day at $43.66 as compared to the previous trading day's close of $43.69. Other companies within the Computer Hardware industry that declined today were: voxeljet ( VJET), down 5.5%, SMART Technologies ( SMT), down 4.4%, Acorn Energy ( ACFN), down 3.7% and China TechFaith Wireless Comm Tech ( CNTF), down 2.9%.

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 $14.7 billion and is part of the technology sector. Shares are up 6.2% year to date as of the close of trading on Tuesday. Currently there are 11 analysts that rate NetApp a buy, 2 analysts rate it a sell, and 12 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 positive front, Overland Storage ( OVRL), up 16.5%, Synaptics ( SYNA), up 6.5%, Mad Catz Interactive ( MCZ), up 5.5% and Ruckus Wireless ( RKUS), up 5.1% , were all gainers within the computer hardware industry with Western Digital Corporation ( WDC) 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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