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 0.7%. By the end of trading, Western Digital Corporation rose $1.03 (1.6%) to $67.23 on average volume. Throughout the day, 2,473,691 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,697,400 shares. The stock ranged in a price between $66.01-$67.27 after having opened the day at $66.23 as compared to the previous trading day's close of $66.20. Other companies within the Technology sector that increased today were: Neonode ( NEON), up 23.9%, Pulse Electronics ( PULS), up 21.7%, UBIC Inc ADR ( UBIC), up 15.2% and Aehr Test Systems ( AEHR), up 14.5%.

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 $15.4 billion and is part of the computer hardware industry. Shares are up 53.5% year to date as of the close of trading on Tuesday. Currently there are 7 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 9 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, Friendfinder Networks ( FFN), down 9.7%, TSR ( TSRI), down 8.0%, Oi ( OIBR), down 7.0% and Adtran ( ADTN), down 6.9% , were all laggards within the technology sector with Opentable ( OPEN) 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

If you liked this article you might like

Western Digital Moves to Block Toshiba's Deal With Bain Group

Jim Cramer Reveals Why He Sold Western Digital For His Charitable Trust

Toshiba Agrees to $18 Billion Deal to Sell Chip Unit to Bain Capital Group

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

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