Western Digital Reaches New 52-Week High (WDC)

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) hit a new 52-week high Wednesday as it is currently trading at $53.14, above its previous 52-week high of $51.89 with 887,178 shares traded as of 11:01 a.m. ET. Average volume has been 3.1 million shares over the past 30 days.

Western Digital has a market cap of $12.09 billion and is part of the technology sector and computer hardware industry. Shares are up 21.4% 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 and solutions that enable people to create, manage, experience and preserve digital content. The company has a P/E ratio of six, below the S&P 500 P/E ratio of 17.7.

  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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 52-week high stocks or get investment ideas from our investment research center.

It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.
null

If you liked this article you might like

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

Western Digital Stock to $100 on Toshiba Deal -- Jim Cramer Explains Why

iPhone X, Bitcoin and Nordstrom - 5 Things You Must Know Before the Market Opens

Global Market Rally Eases After Triple Record Close on Wall Street

Toshiba Opts For Bain-led Group in Memory Unit Sale, But Keeps Options Open