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

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 lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.5%. By the end of trading, Western Digital Corporation fell $1.43 (-1.6%) to $86.99 on average volume. Throughout the day, 2,609,788 shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 2,147,900 shares. The stock ranged in price between $86.15-$88.13 after having opened the day at $87.88 as compared to the previous trading day's close of $88.42. Other companies within the Technology sector that declined today were: NII Holdings ( NIHD), down 55.3%, Intermolecular ( IMI), down 31.2%, Pros Holdings ( PRO), down 16.1% and Altair Nanotechnologies ( ALTI), down 11.2%.

Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content. Western Digital Corporation has a market cap of $21.1 billion and is part of the computer hardware industry. Shares are up 5.4% year to date as of the close of trading on Thursday. Currently there are 11 analysts that rate Western Digital Corporation a buy, 1 analyst rates it a sell, and 4 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 increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, Applied Optoelectronics ( AAOI), up 23.2%, China BAK Battery ( CBAK), up 22.9%, Maxwell Technologies ( MXWL), up 15.3% and Sky-mobi ( MOBI), up 14.7% , were all gainers within the technology sector with Skyworks Solutions ( SWKS) being today's featured technology sector leader.

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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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