Western Digital Reaches New 52-Week High (WDC)

NEW YORK ( TheStreet) -- Western Digital Corporation (NYSE: WDC) hit a new 52-week high Wednesday as it is currently trading at $43.18, above its previous 52-week high of $43.09 with 2.6 million shares traded as of 12:30 p.m. ET. Average volume has been four million shares over the past 30 days.

Western Digital has a market cap of $9.73 billion and is part of the technology sector and computer hardware industry. Shares are up 33.9% year to date as of the close of trading on Tuesday.

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 14.2, 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 largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Western Digital Ratings Report.

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