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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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 2.5%. By the end of trading, Western Digital Corporation rose $3.10 (4.9%) to $66.72 on average volume. Throughout the day, 2,518,986 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,345,900 shares. The stock ranged in a price between $64.19-$66.85 after having opened the day at $64.20 as compared to the previous trading day's close of $63.62. Other companies within the Technology sector that increased today were: Voltari ( VLTC), up 1652.1%, CSR ( CSRE), up 184.6%, Mattersight ( MATR), up 31.3% and SMART Technologies ( SMT), up 25.1%.

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 $15.2 billion and is part of the computer hardware industry. Shares are up 49.7% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Western Digital Corporation a buy, 2 analysts rate it a sell, and 7 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 solid stock price performance, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Silicon Graphics International ( SGI), down 24.4%, Camtek ( CAMT), down 22.8%, Inteliquent ( IQNT), down 21.5% and Selectica ( SLTC), down 19.4% , were all laggards within the technology sector with SunPower Corporation ( SPWR) 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.
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