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

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 1.4%. By the end of trading, Western Digital Corporation rose $1.91 (3.1%) to $62.62 on average volume. Throughout the day, 2,610,864 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,753,500 shares. The stock ranged in a price between $61.42-$63.13 after having opened the day at $61.89 as compared to the previous trading day's close of $60.71. Other companies within the Technology sector that increased today were: GT Advanced Technologies ( GTAT), up 13.8%, Towerstream Corporation ( TWER), up 13.0%, Intevac ( IVAC), up 12.1% and InfoSonics Corporation ( IFON), up 11.6%.

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 $14.2 billion and is part of the computer hardware industry. The company has a P/E ratio of 7.5, below the S&P 500 P/E ratio of 17.7. Shares are up 41.4% 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, Amtech Systems ( ASYS), down 11.2%, Qualstar Corporation ( QBAK), down 8.6%, Elephant Talk Communications ( ETAK), down 7.7% and Digital Power Corporation ( DPW), down 7.3% , were all laggards within the technology sector with Nokia Oyj ( NOK) 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).

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

null

More from Markets

Stocks Trade Lower as Optimism Wanes Over China Trade Talks

Stocks Trade Lower as Optimism Wanes Over China Trade Talks

Comcast Considering All-Cash Bid for Fox as Disney Battle Heads to the Wire

Comcast Considering All-Cash Bid for Fox as Disney Battle Heads to the Wire

Target's Stock Tanks After Q1 Earnings Miss and Slowing Sales

Target's Stock Tanks After Q1 Earnings Miss and Slowing Sales

Global Rally Stalls as Trump Doubts North Korea Summit, Questions China Trade

Global Rally Stalls as Trump Doubts North Korea Summit, Questions China Trade

Trump, China Trade, Target and Las Vegas Casinos - 5 Things You Must Know

Trump, China Trade, Target and Las Vegas Casinos - 5 Things You Must Know