Can this hurt my modem?

i dont have a router so i have to unplug my modem from my computer and connect it to my ps3 and vice versa each time i want to use one or the other. each time i switch it, i usually have to plug in the modem and turn it on and then wait for it to get a connection which usually doesnt happen on the first try to i have to unplug it and disconnect it from power and then plug it in again and it usually works. can doing this hurt my modem?