Western Digital Rises On Unusually High Volume (WDC)
Western Digital Corporation (Nasdaq:WDC) is trading at unusually high volume Wednesday with 7.7 million shares changing hands. It is currently at two times its average daily volume and trading up $2.86 (+8.5%).
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. NEW YORK ( TheStreet) -- Western Digital Corporation (Nasdaq: WDC) is trading at unusually high volume Wednesday with 7.7 million shares changing hands. It is currently at two times its average daily volume and trading up $2.86 (+8.5%) at $36.44 as of 2:05 p.m. ET.
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Western Digital has a market cap of $8.14 billion and is part of the technology sector and computer hardware industry. Shares are up 7.9% year to date as of the close of trading on Tuesday. Western Digital Corporation, through its subsidiaries, engages in the development, manufacture, and sale of storage products that enable people to create, manage, experience, and preserve digital content. The company principally offers hard drives comprising 3.5-inch and 2.5-inch form factors. The company has a P/E ratio of 4.4, 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 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 the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Western Digital Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade.