NEW YORK ( TheStreet) -- Shares of Western Digital Corporation (NYSE: WDC) were gapping up Friday morning with an open price 11.1% higher than Thursday's closing price. The stock closed at $29.25 Thursday and opened today's trading at $32.50.

The average volume for Western Digital has been 5.4 million shares per day over the past 30 days. Western Digital has a market cap of $6.8 billion and is part of the technology sector and computer hardware industry. Shares are down 13.7% year to date as of the close of trading on Thursday.

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. The company has a P/E ratio of 8.9, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Western Digital as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Western Digital Ratings Report.

Get more investment ideas from our investment research center.

Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.
null

If you liked this article you might like

Jim Cramer Reveals Why He Sold Western Digital for His Charitable Trust

Gold, Google, SEC Hack - 5 Things You Must Know Before the Market Opens Thursday

Western Digital Moves to Block Toshiba's Deal With Bain Group

Toshiba Agrees to $18 Billion Deal to Sell Chip Unit to Bain Capital Group

Why Apple Is Increasingly Investing in Its Suppliers, Including Possibly Toshiba