Western Digital Corporation (WDC): Today's Featured Computer Hardware 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 Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day up 1.0%. By the end of trading, Western Digital Corporation rose $1.05 (1.7%) to $63.86 on light volume. Throughout the day, 1,739,368 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,831,300 shares. The stock ranged in a price between $62.47-$63.89 after having opened the day at $63.00 as compared to the previous trading day's close of $62.81. Other companies within the Computer Hardware industry that increased today were: Xplore Technologies Corporation Class A ( XPLR), up 9.2%, XRS ( XRSC), up 5.5%, Radcom ( RDCM), up 5.3% and Finisar Corporation ( FNSR), up 4.9%.
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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 $15.0 billion and is part of the technology sector. The company has a P/E ratio of 7.9, below the S&P 500 P/E ratio of 17.7. Shares are up 47.8% year to date as of the close of trading on Wednesday. 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, Interphase ( INPH), down 9.1%, Hauppauge Digital ( HAUP), down 2.8%, STEC ( STEC), down 1.8% and Dataram Corporation ( DRAM), down 1.8%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer hardware industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the computer hardware industry could consider ProShares Ultra Short Semiconductor ( SSG).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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