Why Western Digital (WDC) Stock Is Lower Today

NEW YORK (TheStreet) -- Shares of Western Digital Corp. (WDC) are lower -6.22% to $82.60 on Thursday, resulting from the company's 2014 third quarter earnings report, which showed a decrease in net earnings and revenue.

The company, which develops and manufactures storage solutions allowing people to create, manage, experience and preserve digital content, reported revenue of $3.7 billion for the 2014 third quarter, compared to $3.8 billion reported during the same period last year.

Net income was $375 million, or $1.55 per share, compared to $391 million, or $1.60 per share in the 2013 third quarter.

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On a non-GAAP basis, net income for the most recent quarter was $470 million, or $1.94 per share versus the $514 million, or $2.10 per share from the year ago quarter.

TheStreet Ratings team rates WESTERN DIGITAL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate WESTERN DIGITAL CORP (WDC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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."

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