Western Digital Corporation

(

WDC

) pushed the Technology sector lower today making it today's featured Technology loser. The sector as a whole closed the day up 1.3%. By the end of trading, Western Digital Corporation fell $1.04 (-3%) to $33.17 on average volume. Throughout the day, 7.5 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 5.1 million shares. The stock ranged in price between $33-$33.82 after having opened the day at $33.19 as compared to the previous trading day's close of $34.21. Other company's within the Technology sector that declined today were:

Deltathree

(

DDDC

), down 56%,

LDK Solar Company

(

LDK

), down 19.2%,

Motricity

(

MOTR

), down 14%, and

Nortech Systems Incorporated

(

NSYS

), down 14%.

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 $8.9 billion and is part of the

computer hardware

industry. The company has a P/E ratio of eight, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 10.5% year to date as of the close of trading on Friday. Currently there are 11 analysts that rate Western Digital Corporation a buy, one analyst rates it a sell, and seven 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 compelling growth in net income, revenue growth, attractive valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front,

Microvision

(

MVIS

), up 110.6%,

LeCroy Corporation

(

LCRY

), up 55.4%,

China TechFaith Wireless Comm Tech

(

CNTF

), up 23.8%, and

A123 Systems

(

AONE

), up 18.8%, were all gainers within the technology sector with

International Business Machines

(

IBM

) being today's featured technology sector winner.

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

).

null