Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

.

Western Digital Corporation

(

WDC

) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day down 0.3%. By the end of trading, Western Digital Corporation fell $1.02 (-2.3%) to $43.48 on average volume. Throughout the day, 5.2 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 4.8 million shares. The stock ranged in price between $42.85-$44.25 after having opened the day at $44.25 as compared to the previous trading day's close of $44.50. Other companies within the Computer Hardware industry that declined today were:

Hewlett-Packard

(

HPQ

), down 8.2%,

Quantum Corporation

(

QTM

), down 8.1%,

Echelon Corporation

(

ELON

), down 7.1%, and

Hauppauge Digital

(

HAUP

), down 6.1%.

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Western Digital Corporation, through its subsidiaries, provides solutions for the collection, storage, management, protection, and use of digital content primarily audio and video worldwide. The company's principal product includes hard drives comprising 3.5-inch and 2.5-inch form factors. Western Digital Corporation has a market cap of $10.88 billion and is part of the

technology

sector. The company has a P/E ratio of 6.8, above the average computer hardware industry P/E ratio of 6.4 and below the S&P 500 P/E ratio of 17.7. Shares are up 43.8% year to date as of the close of trading on Wednesday. Currently there are 10 analysts that rate Western Digital Corporation a buy, no analysts rate it a sell, and nine rate it a hold.

TheStreet Ratings rates Western Digital Corporation as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. 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,

XRS

(

XRSC

), up 20.7%,

Mitek Systems

(

MITK

), up 7.3%,

Logitech International S.A

(

LOGI

), up 7%, and

OCZ Technology Group

(

OCZ

), up 5.6%, were all gainers within the computer hardware industry with

Finisar Corporation

(

FNSR

) 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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