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 down 0.4%. By the end of trading, Western Digital Corporation fell $1.45 (-4%) to $34.51 on heavy volume. Throughout the day, 8.1 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 $33.39-$35.08 after having opened the day at $35 as compared to the previous trading day's close of $35.96. Other company's within the Technology sector that declined today were: Dynasil Corporation of America ( DYSL), down 18.5%, Zoom Technologies ( ZOOM), down 13.8%, Hoku ( HOKU), down 13.8%, and B Communications ( BCOM), down 12%. 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 $9.64 billion and is part of the computer hardware industry. The company has a P/E ratio of 8.1, below the average computer hardware industry P/E ratio of 8.7 and below the S&P 500 P/E ratio of 17.7. Shares are up 12% year to date as of the close of trading on Monday. Currently there are 10 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.
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