SanDisk Corp (SNDK): 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.

SanDisk ( SNDK) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.5%. By the end of trading, SanDisk fell $1.38 (-1.7%) to $78.48 on average volume. Throughout the day, 3,771,455 shares of SanDisk exchanged hands as compared to its average daily volume of 3,956,200 shares. The stock ranged in price between $78.15-$79.68 after having opened the day at $79.40 as compared to the previous trading day's close of $79.86. Other companies within the Technology sector that declined today were: Aetrium Incorporated ( ATRM), down 15.1%, SMART Technologies ( SMT), down 11.6%, On Track Innovations ( OTIV), down 11.3% and Altair Nanotechnologies ( ALTI), down 10.8%.

SanDisk Corporation designs, develops, manufactures, and markets data storage products that are used in various consumer electronics products. SanDisk has a market cap of $18.2 billion and is part of the computer hardware industry. Shares are up 13.2% year to date as of the close of trading on Wednesday. Currently there are 13 analysts that rate SanDisk a buy, 3 analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates SanDisk as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

On the positive front, Unwired Planet ( UPIP), up 20.1%, GTT Communications ( GTT), up 11.9%, Internet Initiative Japan ( IIJI), up 10.1% and Plug Power ( PLUG), up 6.8% , were all gainers within the technology sector with AT&T ( T) 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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