Western Digital Corporation (WDC): Today's Featured Computer Hardware Laggard

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Western Digital Corporation ( WDC) pushed the Computer Hardware industry lower today making it today's featured Computer Hardware laggard. The industry as a whole closed the day up 1.1%. By the end of trading, Western Digital Corporation fell $4.00 (-5.9%) to $63.53 on heavy volume. Throughout the day, 5,226,661 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,451,400 shares. The stock ranged in price between $61.49-$64.16 after having opened the day at $63.50 as compared to the previous trading day's close of $67.53. Other companies within the Computer Hardware industry that declined today were: Performance Technologies ( PTIX), down 5.3%, Identive Group ( INVE), down 4.7%, Seagate Technology ( STX), down 4.2% and XRS ( XRSC), down 2.9%.

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 $16.0 billion and is part of the technology sector. Shares are up 59.6% 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 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 positive front, SMART Technologies ( SMT), up 11.6%, Logitech International S.A ( LOGI), up 10.5%, Dataram Corporation ( DRAM), up 9.0% and Immersion Corporation ( IMMR), up 6.3% , were all gainers within the computer hardware industry with Teradata Corporation ( TDC) being today's featured computer hardware industry leader.

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).

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