Weekly Overview of the Technology Sector

April 2, 2012
Over the recent trading week (March, 26 – March, 30) the Technology sector went through the surge and downgrade and closed the week at +0.94%, while the S&P index reached +0.81%.
According to the results provided by professional stock trading tools, the Technology sector was the only one that ended up the trading week with a loss of 0.10% before the closing bell on Friday (March, 30). As far as the percentage distribution is concerned, 58% companies in the sector are among the price gainers, including 49% companies with an increase in the range from 0 to 2% and 9% companies up more than 2%. At the end of the trading week 34% companies experienced a loss, 34% of them dropped by 0-2%, while the remaining 8% were down more than 2%.
Most Active Stocks in the Technology Sector
At the end of the recent trading week Internet Initiative Japan, Inc. (NASDAQ:IIJI) hit the list of major price gainers in the sector. The shares of the company opened the week at $7.93 and closed it at $8.85 with a surge of $0.62 or 7.53% per share. At the current price the company’s market capitalization stands at $717.50 million which refers the company to a group of small cap ones. On the last trading day of the weekly session as many as 25,117.00 shares of the company exchanged hands as compared to its 30-day average of 14,728.00.
Internet Initiative Japan, Inc. is engaged in delivering Computer Services. The company is focused on two segments including network service and system integration and the Automated Teller Machine (ATM) operation.
Research In Motion Limited (NASDAQ:RIMM) is another weekly gainer within the sector. The stock opened trading on Monday (March, 26) at $13.80 and after a small raise the stock bounced back and experienced a surge of 7.08% or $0.97 to close the weekly session at $14.70. At the current price the company’s market capitalization is equal to $7.71 billion, thus referring RIMM to mid cap companies. The company has a beta of 1.69, which indicates that the stock is more volatile than the market and the company involves a certain deal of risk for potential investors.
Research In Motion Limited is a representative of the Communications Equipment industry. The company is focused on designing, manufacturing and marketing wireless solutions for the worldwide mobile communications market.
Xyratex Ltd. (NASDAQ:XRTX) hit the list of major price downgrades in the sector. After trading well below the level of $16.00 the shares of the company faced an unusual drop of 10.72% or $1.91 per share before the last weekly closing bell. Over the recent year the company was trading as low as $7.58 and hit its highest annual value of $17.96. The company’s market capitalization at the current price amounts to $447.29 million. Following the price downgrade the trading volume of the company increased more than fourfold and reached 1.38 million shares. The company owns a total of 28.11 million outstanding shares engaged in stock market portfolios of multiple investors.
Xyratex Ltd belongs to Computer Storage Devices industry. The company is engaged in two business areas such as Networked Storage Solutions (NSS) and Storage Infrastructure (SI).
By Patrick Brooks

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