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 1.6%. By the end of trading, NetApp fell $0.76 (-2.0%) to $36.24 on light volume. Throughout the day, 3,804,251 shares of NetApp exchanged hands as compared to its average daily volume of 5,385,300 shares. The stock ranged in price between $35.74-$36.89 after having opened the day at $36.81 as compared to the previous trading day's close of $37.00. Other companies within the Computer Hardware industry that declined today were: Overland Storage ( OVRL), down 5.2%, Acorn Energy ( ACFN), down 3.2%, Hutchinson Technology ( HTCH), down 2.2% and Mad Catz Interactive ( MCZ), down 1.8%.

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 $12.2 billion and is part of the technology sector. Shares are down 10.1% year to date as of the close of trading on Tuesday. Currently there are 8 analysts that rate NetApp a buy, 3 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, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

On the positive front, Nimble Storage ( NMBL), up 9.4%, voxeljet ( VJET), up 9.3%, Echelon Corporation ( ELON), up 7.2% and Violin Memory ( VMEM), up 6.6% , were all gainers within the computer hardware industry with Seagate Technology ( STX) 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.

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