Western Digital Corporation (WDC): Today's Featured Technology Winner

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

Western Digital Corporation ( WDC) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 0.3%. By the end of trading, Western Digital Corporation rose $1.27 (2.1%) to $60.72 on light volume. Throughout the day, 1,639,523 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,859,300 shares. The stock ranged in a price between $59.62-$60.94 after having opened the day at $59.89 as compared to the previous trading day's close of $59.45. Other companies within the Technology sector that increased today were: Suntech Power Holdings ( STP), up 52.7%, Renewable Energy Trade Board ( EBOD), up 40.9%, WPCS International ( WPCS), up 29.1% and Plug Power ( PLUG), up 26.4%.
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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. Western Digital Corporation has a market cap of $14.3 billion and is part of the computer hardware industry. The company has a P/E ratio of 7.6, below the S&P 500 P/E ratio of 17.7. Shares are up 42.3% year to date as of the close of trading on Monday. Currently there are 7 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 10 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Zoom Technologies ( ZOOM), down 19.1%, IEC Electronics Corporation ( IEC), down 16.2%, SolarCity ( SCTY), down 13.7% and EFuture Information Technology ( EFUT), down 12.2% , were all laggards within the technology sector with America Movil S.A.B. de C.V ( AMX) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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